Canada's main stock index was lower as Monday morning became afternoon, and as gains in mining shares driven by safe-haven demand were offset by losses in tech and financials stocks.
The TSX dropped 135.55 points to pause for lunch at 33,681.96.
The Canadian dollar slid 0.19 cents at 73.06 cents U.S.
E-commerce firm Shopify dropped $10.98, or 6.4%, to $161.91.
ON BAYSTREET
The TSX Venture Exchange poked upward 9.05 points to 1,051.61
Seven of the 12 TSX subgroups were positive in the early going, led by gold, popping 3%, materials, better by 2.5%, and consumer staples, ahead 0.9%.
The five laggards were weighed most by information technology, off 2.8%, while industrials and consumer discretiona5y stocks faded 1.3% each.
ON WALLSTREET
U.S. equities fell on Monday after President Donald Trump said he’s raising his global tariffs following the Supreme Court’s decision to strike down his “reciprocal” tariffs.
The Dow Jones Industrial Average cratered 747.19 points, or 1.5%, to 48,878.92.
The S&P 500 index let go of 74.8 points, or 1.1%, to 6,834.71.
The NASDAQ ditched 283.9 points, or 1.2%, to 22,681.96.
Those moves come after Trump on Saturday said he would increase the global tariff rate to 15%, up from the 10% he announced on Friday.
Trump added that the new duties would go into effect immediately, though it was unclear whether any official documents had been signed regarding the timing. He also said that additional levies would be coming over the next few months.
The president later warned of higher duties for countries that want to “play games” after the high court’s ruling.
“Any Country that wants to ‘play games’ with the ridiculous supreme court decision, especially those that have ‘Ripped Off’ the U.S.A. for years, and even decades, will be met with a much higher Tariff, and worse, than that which they just recently agreed to,” he wrote in a Truth Social post on Monday. “BUYER BEWARE!!!”
Prices for the 10-year Treasury gained ground, lowering yields to 4.03% from Friday’s 4.08%. Treasury prices and yields move in opposite directions.
Oil prices lost 11 cents to $6.37 U.S. a barrel.
Gold prices popped $151.80 to $5,232.70 U.S. an ounce.
