Business ReportCLOSING BELL: TSX takes a tumble on BoC interest hike, oil prices SHARE ON: Patrick Grapes, staff Wednesday, Jul. 11th, 2018 The Bank of Canada announced an interest hike today, and Canada’s main stock market took a dive in response.The BoC raised its rate to 1.5 per cent, but comments from Governor Stephen Poloz may also have spurred investors into sell mode. Poloz said the consequences of a trade war for Canada will likely be much worse than originally believed. That, combined with a drop in oil prices, added up to a 131 point loss for the TSX, which closed at 16,417.On Wall Street, it was a familiar story. The Dow Jones took a tumble as U.S. President Donald Trump threatened, yet again, to slap China with more tariffs, this time on $200 billion worth of goods. The Dow closed at 24,700, down 219 points.At press time oil is down $3.41 to $70.70 U.S. per barrel, gold is down $13.00 to $1242.40 an ounce, and the loonie is down close to three quarters of a cent, to 75.70 cents U.S.