Canada's main stock index opened lower on Tuesday, as softer gold prices weighed on mining stocks, offsetting gains in energy shares after oil prices rose following fresh attacks on Saudi energy facilities.
The TSX tumbled 153.32 points to begin Tuesday at 36,360.48.
The Canadian dollar regained 0.1 cents to 72.54 cents.
Markets on both sides of the border, of course, were closed Monday for Labour Day.
Iran threatened the ?U.S. with "economic warfare" and said it fired an ?advanced missile at U.S. warships, raising fears that ?the conflict could ?escalate.
Canada's retaliatory tariffs on American goods took effect on Tuesday after Prime Minister ?Mark Carney's government failed to reach a deal with Washington last month.
Meanwhile, U.S. President Donald Trump said on Monday that Bombardier would not be allowed to ?sell its planes in the U.S. unless it started manufacturing in the country.
Bombardier shares plummeted $22.62, or 7.2% to $292.50.
ON BAYSTREET
The TSX Venture Exchange retreated 4.59 points to 960.81
All but three of the 12 TSX subgroups were in the red in the first hour, with information technology stocks down 3.1%, real-estate losing 1.2%, and consumer discretionary stocks off 1.1%.
The three gainers were energy, up 2.3%, materials better 0.8%, and utilities ahead 0.3%.
ON WALLSTREET
The Dow Jones Industrial Average dropped Tuesday to kick off a shortened week of trading, with Wall Street keeping tabs on the U.S.-Iran war as well as rising trade tensions between Canada and the U.S.
The 30-stock index let go of 507.16 points, or 1%, to begin Tuesday’s session at 52,907.09
The S&P 500 sank 28.02 points, or 0.4%, to 7,690.58
The NASDAQ Composite retreated 104.81 points, or 0.4%, to 26,402.18.
Traders also have to contend with brewing trade tensions between the U.S. and Canada once again. Retaliatory tariffs from Canada on about $20 billion of U.S. goods take effect on Tuesday.
President Donald Trump on Monday said ahead of the new duties that Canadian aircraft manufacturer Bombardier can’t sell in the U.S. unless Canada begins making its products in the U.S.
Qualcomm is partnering up with Amazon Web Services to “help build out AWS” AI Infrastructure, according to the company’s press release.
Shares for the chipmaker rose over 7% following the news.
The Federal Reserve is due to hold a monetary policy meeting next week. Traders are pricing in a 60% chance the central bank will hike rates by a quarter-percentage point after the meeting.
Prices for the 10-year Treasury were static, keeping yields at Friday’s 4.78%.
Oil prices were boosted $1.74 to $93.22 U.S. a barrel.
Gold prices dulled $32.40 to $4,444.20 U.S. an ounce.
Related Stories
