TSX Down 0.7% As Technology, Materials Stocks Decline Sharply
(RTTNews) - The Canadian market remains in negative territory Wednesday afternoon, weighed down by losses in technology, healthcare and materials sectors.
The mood is somewhat bearish amid continued uncertainty surrounding new tariffs from the Trump Administration that are set to take effect from April 2nd.
The benchmark S&P/TSX Composite Index was down 173.63 points or 0.69% at 25,165.88 a little while ago.
Celestica Inc is plunging nearly 9.5%. Teck Resources, First Quantum Minerals, Shopify, Ivanhoe Mines, Lundin Mining, Capstone Mining, Tilra, Hudbay Minerals, Bausch Health Companies, Ero Copper, BlackBerry and Brookfield Renewable are down 4 to 6%.
Algoma Steel, TerraVest Industries, Methanex, MAG Silver, Cameco, Premium Brands, Gildan Activewear, Jamieson Wellness, Dollarama, Alimentation Couche-Tard and Lightspeed Commerce are also down sharply.
BRP Inc is climbing up more than 6%. New Gold, NuVista Energy, Pet Valu Holdings, Boyd Group Services, Restaurant Brands International, Arc Resources, Paramount Resources, Stella-Jones, North West Company and Linamar are gaining 1.5 to 3.4%.
On the economic front, data from Statistics Canada said wholesale sales in Canada likely increased by 0.4% month-over-month in February, after a 1.2% rise in the previous month, according to preliminary estimates.
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