Equities in Toronto were roughed up Tuesday by much the same forces their American cousins faced, in the wake of an possible invasion of Greenland by American troops.
The TSX index staggered 340.68 points to conclude Tuesday at 32,750.28.
The Canadian dollar gained 0.21 cents to 72.28 cents U.S.
Crypto miner Bitfarms slid 17 cents, or 4.4%, to $3.72, as bitcoin dropped to a one-week low.
Health-care stocks incurred similar losses, with Curaleaf down 17 cents, or 4.4%, to $3.45 after the medical cannabis producer announced preliminary fourth-quarter results.
Bausch Health Companies dipped 24 cents, or 2.5%, to $9.38.
Tech stocks took it on the chin Tuesday, with Dye & Durham fading 47 cents, or 10.1%, while Shopify shares were battered $14.40, or 6.7%, to $199.75.
Among industrials, ATS Corp. got slammed $2.89, or 7%, to $38.69, while TFI International lost $5.80, or 3.7%, to $150.35.
Gold tried to balance things out, with Aya Gold climbing $1.70, or 7.3%, to $24.91, while Centerra Gold jumped $1.89, or 8.2%, to $25.00.
In the materials sector, G Mining Ventures hiked $4.64, or 10.8%, to $47.81, while Orla Mining advanced $2.26, or 10.7%, to $23.35.
In telecoms, Quebecor tacked on 55 cents, or 1.1%, to $49.25, while Rogers gained 57 cents, or 1.1%, to $50.55.
ON BAYSTREET
The TSX Venture Exchange gained 7.21 points to 1,093.33.
All but three of the 12 TSX subgroups finished lower, weighed most by information technology, dishing off 3.7%, industrials, sliding 2%, and health-care, tumbling 1.7%,
The three gainers were gold, rocketing 3%, while materials surged 1.7%, and telecoms finished ahead 0.2%.
ON WALLSTREET
U.S. equities suffered big losses Tuesday after President Donald Trump intensified his rhetoric on Greenland, threatening to impose new tariffs on countries opposing the sale of the Danish territory to the United States.
The Dow Jones Industrials toppled 870.86 points, or 1.8%, to 48,488.47.
The S&P 500 dumped 143.07 points, or 2.1%, to 6,796.93.
The NASDAQ swooned 561.07 points, or 2.4%, to 22,954.37.
Trump announced in a Truth Social post on Saturday that eight NATO members’ U.S. imports will face escalating tariffs “until such time as a Deal is reached for the Complete and Total purchase of Greenland.” The tariffs will start at 10% on Feb. 1 and rise to 25% on June 1, Trump said.
Trump then threatened to impose 200% tariffs on French wines and champagne, amid reports that the country’s president, Emmanuel Macron, is unwilling to join his so-called Board of Peace.
Trump also hit out at the U.K., labeling the British government’s plan to hand over sovereignty of the Chagos Islands — one of which is the site of a U.K.-U.S. military base — to Mauritius as an “act of great stupidity.” He said the move was “another in a very long line of National
Security reasons why Greenland has to be acquired.”
Prices for the 10-year Treasury withered, lifting yields to 4.29%, from Friday’s 4.23%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.09 to $60.53 U.S. a barrel.
Gold prices popped $162.90 to $4,758.50.
