S&P/TSX Composite Drops Nearly 500 Points, US Stocks Also Fall as Tariffs Start

Financial numbers flow on the digital ticker tape at the TMX Group in Toronto's financial district. The Canadian Press/Darren Calabrese

Canada’s main stock index fell nearly 500 points in early trading, while U.S. stock markets also tumbled, adding to their losses Monday after U.S. President Donald Trump confirmed tariffs on goods coming from Canada and Mexico.

The S&P/TSX composite index was down 568.31 points or 2.3 percent at 24,433.260 Monday morning after the tariffs came into effect at 12:01 a.m. ET, triggering a continental trade war.