TSX closed lower on trade war fears sparked by President Trump's announcement of tariffs

From Nasdaq: 2025-02-27 18:20:49

The Canadian market closed lower due to trade war fears, with President Trump announcing tariffs on Canada, Mexico, China, and European cars. Major banks like Royal Bank of Canada, Canadian Imperial Bank of Commerce, and Toronto-Dominion Bank reported earnings updates. The S&P/TSX Composite Index ended down 0.79% at 25,128.24. Statistics Canada reported a widened current account deficit of C$5.0 billion in Q4 2024. Average weekly earnings of non-farm payroll employees in Canada rose by 5.8% year-on-year to $1,290.82 in December 2024, the highest since March 2021. Stocks like Veren, Kinaxis, and E-L Financial Corporation saw gains, while others like Bombardier Inc. and Agnico Eagle Mines experienced losses.



Read more at Nasdaq: TSX Ends Moderately Lower On Tariff Concerns