Canada's main stock index fell for the fifth straight session on Friday following a sharp escalation in U.S.-China trade row that renewed worries over slowing global growth and sparked a flight to safer assets.
The S&P/TSX Composite dropped 97.33 to finish the day and week at 16,279.71, a drop of nearly 260 points, or 1.6%, on the week.
The Canadian dollar fell 0.01 cents to 75.69 cents U.S.
Stock markets will be shuttered in Canada on Monday for a holiday.
Open Text fell $5.00, or 8.9%, the most on the TSX, to $51.23, after it posted fourth-quarter results. Shopify shares were pasted $13.59, or 3%, to $437.99
Energy stocks were roughed up, as Arc Resources ditched 29 cents, or 4.2%, to $6.65, while Imperial Oil jettisoned $1.35, or 3.8%, to $34.14.
In materials, First Majestic Silver capsized 40 cents, or 3.1%, to $12.61, while Hudbay Minerals let go of 18 cents, or 3.6%, to $4.86.
The largest percentage gainer on the TSX was Aphria, which ballooned $2.81, or 40.7%, to $9.71 after the cannabis producer posted better-than-expected fourth-quarter revenue.
The second biggest gainer was Hexo up 38 cents, or 7%, to $5.77.
In consumer stocks, Restaurant Brands International sprang up $5.55, or 5.8%, to $101.85, while Great Canadian Gaming Corp. spiked 68 cents, or 1.6%, to $43.60.
On the economic front, Statistics Canada said Canada's exports were down 5.1% in June, while imports fell 4.3%. As a result, Canada's merchandise trade balance remained in a surplus position of $136 million after posting a $556-million surplus in May.
ON BAYSTREET
The TSX Venture Exchange gained 4.41 points to 595.74, a gain of 2.85 points on the week, or 0.5%
All but three of the 12 Toronto subgroups were still pointed downward to end Friday, as information technology shed 2.4%, energy was 2% less energetic, and materials weakened 0.9%.
The three gainers were health-care, up 4.8%, consumer discretionary stocks, hiking 1.1%, and utilities, eking up 0.1%.
ON WALLSTREET
Stocks fell on Friday as President Donald Trump stoked U.S.-China trade fears with the announcement of more tariffs while investors digested U.S. employment data.
The Dow Jones Industrials came off its lows of the day, but still fell 98.41 to 26,485.01
The S&P 500 dipped 21.51 points, to 2,932.05. The NASDAQ subtracted 107.05 points, or 1.3%, to 8,004.07
The major indexes also dipped below their 50-day moving averages, a key technical level watched by investors.
The S&P 500 dropped 3.1%, and NASDAQ slouched 3.9% this week, their biggest weekly declines of 2019. The Dow had its second-worst week of the year, sliding 2.6%.
Caterpillar and Deere, two of the stocks associated with trade because of their overseas revenue exposure, both demurred more than 1.5%.
In a series of tweets on Thursday, President Donald Trump said the 10% charge would be imposed on $300 billion worth of Chinese goods.
The levy will take effect starting September 1. Trump said later on Thursday he was open to shelving that tariff if China stepped up its U.S. agricultural purchases.
China’s foreign ministry pushed back against Trump’s latest tariff threat on Friday morning, reportedly saying the world’s largest economy should give up its illusions, shoulder some responsibility and come back to the right track on resolving the trade war.
The U.S. economy added 164,000 jobs in July, just below a Dow Jones estimate of 165,000. The job gains pushed the size of the U.S. labour force to a record high.
Prices for the benchmark 10-year U.S. Treasury rose, lowering yields to 1.85% from Thursday’s 1.9%. Treasury prices and yields move in opposite directions
Oil prices regained $1.25 to $55.20 U.S. a barrel.
Gold prices strengthened $20.70 to $1,453.10 U.S. an ounce.
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