TORONTO — In a stunning turn of events, Canada's primary stock index plunged by over 300 points during morning trading, illustrating a growing anxiety over U.S. President Donald Trump's tariffs and their potential impact on the market.

The S&P/TSX composite index fell 308.86 points, bringing it to 24,449.90 at the close of morning trading on Monday. This significant downturn reflects a broader pessimism that has gripped investors amid escalating trade tensions between the U.S. and its global partners.

Meanwhile, U.S. stock markets were feeling the heat as well. The Dow Jones Industrial Average saw a decrease of 404.94 points, settling at 42,388.34. The S&P 500 index also faced a sharp drop, down 111.61 points to 5,658.59, while the Nasdaq composite suffered an even steeper decline, plummeting 621.17 points to 17,597.81.

As the markets react, the Canadian dollar exchanged at 69.36 cents U.S., a slight increase from 69.35 cents U.S. just the prior Friday.

In commodities, crude oil prices are feeling the strain as well, with the April contract falling by 38 cents to trade at US$66.66 per barrel. Conversely, the natural gas contract ticked up six cents to US$4.46 per mmBTU. The gold market saw a modest decline too, as the April contract slipped US$1.60 to settle at US$2,912.50 per ounce, while May copper also faced loss, down four cents to US$4.66 per pound.

Market experts are swirling with speculation about how these developments will unfold in the coming weeks, especially as investors brace for more volatility driven by tariff-related uncertainties. As tensions rise, many are left wondering: what does this mean for the global economy and your investments? Stay tuned as we continue to monitor this developing story!