Stock markets take hit as U.S. tariffs are imposed

Markets took a hit after the U.S. slapped new tariffs on Canadian goods.

The TSX dropped  1.7 per cent on Tuesday, closing at 24,572, its lowest since January.

In the U.S., the DOW plunged nearly 800 points, down 1.9 per cent, while the NASDAQ and S&P 500 also slipped about 2 per cent.

Investors are worried about rising costs and slower trade between the two countries.