Dow drops 600 points to start shortened week as oil prices climb: Live updates

BREAKING: Dow drops 600 points to start the shortened week as oil prices climb, with US-Canada trade tensions escalating and oil nearing $100 a barrel amid the US-Iran war.

Six hundred points, gone, and it's only Tuesday.

The Dow got hammered to open the shortened week, and you can see the mood on the floor of the New York Stock Exchange, nobody's having a good day down there. The story behind the selloff is a two-front squeeze. Oil is closing in on a hundred dollars a barrel as the US-Iran war keeps supply on a knife edge, and every dollar of crude is a tax on everything that moves.

Then there's the neighbour problem. Trade tensions between Washington and Ottawa are escalating, which means the two biggest cross-border partners in the world are arguing while energy costs climb. Bad combination.

So traders came back from a long weekend hoping for a quiet stretch, and instead got triple-digit crude knocking on the door and a trade fight at home. A hundred dollar barrel isn't a headline, it's a bill, and everyone pays it.

This is Sara White, reporting for HIT.