Canadian market weak after 3% drop due to tariffs, some stocks down, metal stocks up

From Nasdaq: 2025-02-03 14:42:35

The Canadian market initially dropped over 3% on Monday due to sustained selling pressure in industrials, consumer discretionary, and financials sectors. President Trump imposed 25% tariffs on Canadian imports, exempting energy which will face a 10% tariff. Canada plans to retaliate with 25% tariffs on over $105 billion of U.S. goods. Goeasy, BRP Inc, and other stocks are down 4 to 8.5%. Metal stocks are up with Equinox Gold Corp soaring 10%. The S&P Global Canada Manufacturing PMI fell to 51.6 in January, signaling a slower expansion. EU and UK could be next targets for tariffs.



Read more at Nasdaq: Canadian Market Remains Weak Despite Coming Off Early Lows