TSX Falls on Broad Losses

The S&P/TSX Composite Index fell 1.1% to close at 36,123, pressured by financial, industrial and tech stocks. Canada’s retaliatory tariffs on US goods took effect, covering $20 billion of imports, with duties ranging from 15% to 50% on steel, furniture, clothing and electronics. The US tariffs introduced last month covered $20 billion, or 5%, of Canadian exports. President Trump said Monday that Bombardier (-1.5%) would not be allowed to sell planes in the US unless it began manufacturing there. Financials also came under pressure as oil prices climbed amid an escalation in the US-Iran war, raising concerns over energy disruptions and inflation and boosting rate-hike bets. RBC fell 1.1% and TD Bank 1.2%. Tech stocks tracked losses among US hyperscalers and other credit-sensitive software companies, with Shopify tumbling 7.8% and Constellation Software falling 5.6%. Enbridge added 0.5% after saying CEO Greg Ebel will retire by late 2026 and ?be succeeded by Michele Harradence.

The S&P/TSX Composite Index fell more than 0.5% to trade below 36,500 on Tuesday as Canada’s retaliatory tariffs on US goods took effect. The counter-tariffs cover $20 billion of US goods, with duties ranging from 15% to 50% on products including steel, furniture, clothing and electronics. The US tariffs implemented last month targeted sectors including wine, furniture, dairy products, cement, clothing, fishing rods and hockey equipment, covering $20 billion, or 5%, of Canadian exports to the US. Meanwhile, US President Trump said on Monday that Bombardier (-3%) would not be allowed to sell its planes in the US unless it started manufacturing in the country. Saputo shed about 0.5%, while Dorel lost more than 0.5%. Also weighing on the TSX, crude prices climbed after Saudi Arabia reported attacks that halted operations at several energy facilities. Fears of energy disruptions and energy-driven inflation increased rate hike expectations in Canada and the US, weighing on major banks.

Futures tracking Canada’s stock market slipped on Tuesday as Canada’s retaliatory tariffs on US goods took effect. The counter-tariffs cover $20 billion of US goods, with duties ranging from 15% to 50% on products including steel, furniture, clothing and electronics. The US tariffs implemented last month targeted sectors including wine, furniture, dairy products, cement, clothing, fishing rods and hockey equipment, covering $20 billion, or 5%, of Canadian exports to the US. Meanwhile, US President Trump said on Monday that Bombardier would not be allowed to sell its planes in the US unless it started manufacturing in the country. Also weighing on the TSX, crude prices climbed after Saudi Arabia reported attacks that halted operations at several energy facilities. Fears of prolonged energy disruptions and resulting energy-driven inflation increased rate hike expectations in Canada and the US, pressuring credit-sensitive stocks such as major banks.