North American markets slump amid White House turmoil

TORONTO – Canada’s main stock market has started the day moderately lower amid turmoil surrounding Donald Trump‘s presidency.

In the first minutes of trading, the S&P/TSX composite was down 67.02 points at 15,206.66.

That follows its biggest one-day decline of the year on Wednesday, when it fell 269.65 points, down 1.73 per cent.

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READ MORE: U.S. dollar, Dow Jones sink amid Donald Trump controversies

The major U.S. indexes also fell dramatically on Wednesday amid concerns about Trump’s ability to implement his pro-business policies such as lowering corporate taxes.

Shortly after the open today, there was a more muted response in New York, with the Dow Jones industrial average down 15.14 points at 20,591.79, the broader S&P 500 index up 1.34 points at 2,358.37 and the Nasdaq composite advancing 17.92 points at 6,029.15.

Canada’s loonie was at 73.44 cents US, barely weaker than Wednesday’s average price of 73.45 cents US.