TSX drops nearly 1% due to trade war concerns, with various sector stocks declining

From Nasdaq: 2025-03-13 18:04:18

The Canadian market fell to a four-and-a-half-month low due to concerns about global economic growth from the trade war. Trump imposed tariffs on Canadian steel and aluminum, prompting Canada to retaliate with tariffs on $29.8 billion of U.S. goods. Trump threatened a 200% tariff on European wines and champagnes in response to the EU’s 50% tariff on American whiskey. The S&P/TSX Composite Index closed down 0.9%, with technology, healthcare, and financials stocks declining. Empire Company reported third-quarter earnings, while Transat A.T. reported an adjusted net loss for the first quarter. First Quantum Minerals Ltd saw a 14.4% increase in shares after Panama authorized the sale of copper concentrate at their Cobre Panama mine. Various other mining companies saw gains as well. Building permit values in Canada slipped by 3.2% month-over-month in January 2025.



Read more at Nasdaq: TSX Sheds Nearly 1% On Tariff Jitters