Global markets decline as Trump announces new tariffs on imports from Canada and Mexico

Global markets fell after U.S. president-elect Donald Trump announced plans for tariffs on all imports from Canada and Mexico, as well as additional tariffs on China. Wall Street futures were mixed, reflecting investor caution. The Canadian dollar weakened against the U.S. dollar, dropping about 1.37 percent over the past month. Oil prices rose slightly amid speculation of a ceasefire between Israel and Hezbollah, while gold prices also increased. Best Buy lowered its annual profit and sales forecasts, indicating a challenging holiday shopping season. Economic data releases are expected today, including Canadian wholesale trade and U.S. home price indices.