North American markets plunge as Trump moves to impose China tariffs + MORE Mar 22nd

TORONTO _ Toy company executive Isaac Larian is hoping to keep Toys “R” Us’s Canadian operations from going out of business, but a $1 billion crowdfunding campaign he launched to rescue the company doesn’t include the country’s stores.
The executive behind California-based MGA Entertainment Inc., which makes Little Tikes, Bratz and L.O.L. Surprise! toys, announced on Thursday that he and some affiliated investors were seeking $800 million from toy lovers in hopes of acquiring “all or some” of Toy “R” Us’s assets, thus “saving the retail chain and preserving the Toys “R” Us experience for future generations.“
The efforts focus on Toys “R” Us’s U.S. stores and are separate from Larian’s attempts to buy the brand’s 82 Canadian stores, which 20 interested parties are vying for, said Toys “R” Us bankruptcy documents filed in the U.S.
“Toys ”R“ Us Canada is a good business,” Larian said in a statement previously…

Dow plunges more than 700 points while TSX suffers worst loss since 2016

CNN Chief Jeff Zucker Calls Fox News 'State-Run TV,' Blasts Facebook 'Fake News'NewsweekCNN President Jeff Zucker took several shots at cable news competitor Fox News on Thursday, labeling its programming as “state-run TV” and a “propaganda machine.” Speaking at the Financial Times Future of News conference in New York City on Thursday …and more »

TORONTO — Samantha Brookes has been warning Canadians to take a close look at the clauses in their mortgage contracts for years, but her refrain has become a bit more prevalent in recent months.
Since the Office of the Superintendent of Financial Institutions’ mortgage stress test was implemented in January, the founder of the Mortgages of Canada brokerage has seen “a huge influx” of Canadians who fail to qualify for a bank mortgage turning to alternative lenders that range from risky loan sharks to larger, more conventional companies like Home Trust.
READ: Your mortgage is about to get more expensive
While alternative lenders can provide a lifeline for Canadians who have run out of other financing options, Brookes said they come with pitfalls for those who don’t bother looking at the fine print.
“You need to read those contracts,” she said. “(With an alternative lender), the interest rates are higher, the qualifying rate is higher than if you were going with a traditional bank and they are going to charge one per cent of the mortgage amount (as a lender’s fee) for closing, so that means your closing costs increase…

TORONTO _ North American markets closed down sharply as U.S. President Donald Trump stoked fears of rising protectionism by moving to impose tariffs on some Chinese goods.
The Toronto Stock Exchange’s S&P/TSX composite index closed down 275.35 points to 15,399.93 in broad-based declines led by base metals.
In New York, the Dow Jones industrial average closed down 724.42 points to 23,957.89. The S&P 500 index was down 68.24 points to 2,643.69 and the Nasdaq composite index was down 178.61 points to 7,166.68.
The Canadian dollar closed at 77.47 cents US, up 0.30 of a US cent.
The May crude contract closed down 87 cents to US$64.30 per barrel and the May natural gas contract, which has become the new benchmark, ended down a penny at US$2.66 per mmBTU.
The April gold contract closed up $5.90 to US$1,327.40 an ounce and the May copper contract was down four cents to US$3.02 a pound.
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