TSX Falls as Trade and Growth Concerns Weigh
The S&P/TSX Composite Index experienced a decline of approximately 0.3%, settling below the 25,100 mark on Friday. This reduced the weekly gains to roughly 0.3% as investors became cautious due to lingering concerns over upcoming U.S. tariffs and tepid economic growth. The unease was exacerbated by President Trump's declaration of a 25% tariff on foreign-manufactured vehicles, which raised further apprehension about escalating trade disputes. Additionally, Prime Minister Mark Carney's remarks on potential retaliatory responses added to the tension. Preliminary figures indicated that Canadian GDP did not exhibit any growth in February, intensifying worries about a possible economic slowdown. Consequently, all nine major sectors reflected negative performance, with most stocks showing little to no positive movement. Shopify notably faced significant declines, plummeting over 2% and marking its third consecutive session of substantial losses.
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