MID-DAY: North American markets slammed by global economic worries over Saudi, Brexit and trade wars
The perfect storm of economic woes is causing havoc on North American markets. The TSX is down 237 points to 15,157 and across the border the Dow is falling 380 points to 24,937.
The weight comes from geopolitical concerns over Saudi Arabia, EU and Brexit tension and the continually growing trade war worries. The energy sector is also putting pressure on Bay Street as crude continues to slide.
The price of US oil is down to 67-45 a barrel. Investors are concerned the problems with Saudi Arabia will dry up crude exports from the middle eastern country, however Saudi officials say they still plan to keep that market thriving.
Gold continues to be a preferred choice of safe haven for investors, gaining to 1,235 an ounce.
The Loonie is gaining slightly to 76.33 cents US.