TSX drops 1% due to tariff concerns, Imperial Oil stock plummets, Celestica Inc rises.

From Nasdaq: 2025-01-31 18:08:44

The Canadian market started strong but fell throughout the day after Trump’s announcement of 25% tariffs on imports from Canada. The S&P/TSX Composite Index closed down 1.07% at 25,533.10, with energy, consumer discretionary, healthcare, materials, and industrials sectors taking a hit. Imperial Oil reported a decline in fourth-quarter net income, causing its stock to plummet 6.6%. On the other hand, Celestica Inc soared over 8%. Statistics Canada data revealed a 0.2% decrease in Canadian real gross domestic product in November, with a projected 0.2% growth in December.



Read more at Nasdaq: TSX Tumbles More Than 1% As Stocks Fall On Tariff Concerns