April 3 (Reuters) - Futures tied to Canada's main stock

index tumbled on Thursday, as U.S. President Donald Trump's

reciprocal tariffs against its trading partners amplified fears

of global recession.

The futures on the S&P/TSX index were down 3% at

6:40 a.m. ET (1040 GMT).

Trump's new tariffs announced on Wednesday set a baseline of

10% for all imports and higher duties on some of the biggest

trading partners of U.S.

But Canada avoided the new levies as goods that comply with

the USMCA trade agreement between the U.S., Mexico, and Canada

will largely remain exempt, excluding autos, steel and aluminum

which fall under separate tariff policies.

Separately, Greater Toronto Area home sales fell in March,

data released on Thursday showed, adding to steep declines the

month before. Home prices dropped for a third straight month as

trade uncertainty crimped activity.

In commodities, oil prices fell after the new tariffs, as

investors worried they will curtail economic growth and limit

fuel demand.

Gold prices steadied after surging to yet another all-time

high in the previous session, as traders locked in profits

following a rush to safe-haven assets.

Copper prices also fell amid concerns that the tariffs would

weaken global demand for metals.

Canada's main stock index rose to its highest closing level

in over a week on Wednesday, helped by gains for industrial and

technology shares.

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory