TSX Ends Sharply Lower As Stocks Tumble On Tariff Jitters

RTTNews | hace 175

(RTTNews) - The Canadian market ended sharply lower on Monday due to heavy selling in energy and technology sectors. Stocks from materials, industrials and consumer discretionary sectors were the other major losers.

The mood remained bearish on Bay Street as U.S. President Donald Trump confirmed that the 25% tariffs on Canad and Mexico will take effect Tuesday.

Trump also announced plans to impose tariffs on imported agricultural products from April 2.

Data showing a sharp contraction in Canadian manufacturing activity in the month of February weighed as well on investor sentiment.

The benchmark S&P/TSX Composite Index closed down 391.88 points or 1.54% at 25,001.57. The index dropped to a low of 24,885.70 in the final hour, before staging a modest recovery from that level.

Energy stocks tumbled, pushing the Energy Capped Index by 5.14%, as oil prices fell amid prospects of excess supply in the market as OPEC+ said the group will proceed with a planned oil output increase in April, and on worries that U.S. tariffs could hurt global economic growth and result in weak oil demand.

The Information Technology Capped Index ended down 3.4%, while the Industrials Index closed 1.45% down. The Materials and Consumer Discretionary indexes lost 1.18% and 1.07%, respectively.

Celestica Inc tanked 12.9%. Interfor Corporation, MEG Energy Corp, E-L-Financial Corporation, MDA Space, Cenovus Energy, Precision Drilling Corporation, Bombardier Inc. and Cameco Corporation ended down by 6 to 9%.

Methanex Corporation, Nutrien, Cargojet, Canadian Natural Resources, Suncor Energy, TFI International, Shopify Inc., AtkinsRealis, BRP Inc., West Fraser Timber, Onex Corporation, Tourmaline Oil Corp., Canadian National Railway, Magna International, Constellation Software, Imperial Oil, Loblaw Companies and Canadian Pacific Kansas City also declined sharply.

Stella-Jones, Docebo, GFL Environmental, GDI Integrated Facility Services, Pet Valu Holdings, Kinaxis, ATCO, Quebecor, Canadian Tire Corporation, Emera, BCE Inc., and Endeavour Mining gained 1.5 to 4%.

The S&P Global Canada Manufacturing PMI fell to 47.8 in February of 2025 from 51.6 in the previous month, contrasting sharply with market expectations of 51.9. The result pointed to the first decline in factory activity since August of last year and the sharpest since December 2023.

Sensex, Nifty Deep In The Red On Tariff Worries

Indian shares opened on a sluggish note on Tuesday after the Trump administration officially issued a notice regarding the imposition of an additional 25 percent tariffs on Indian imports, with the punitive duties set to kick in at 12:01 am (EST) on August 27.

RTTNews | hace 37 minutos

Australian Market Extends Early Losses In Mid-market

The Australian stock market is extending its early losses in mid-market trading on Tuesday, giving up the slight gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 8,950 level, with weakness in iron ore miners and a mixed performance across most other sectors.

RTTNews | hace 1h 51min

Asian Markets Track Wall Street Lower

Asian stock markets are trading mostly lower on Tuesday, following the broadly negative cues from Wall Street overnight, as traders looked to cash in on the recent strong gains and remain cautious ahead of the release of key US economic data later in the week, including second quarter GDP and the US Fed's preferred readings on consumer price inflation. Asian markets closed mostly higher on Monday.

RTTNews | hace 2h 12min

Sensex, Nifty Seen Lower As US Notifies India Of Additional Tariffs

Indian shares may open on a weak note on Tuesday as enthusiasm over potential Federal Reserve rate cuts faded and caution set in ahead of the release of crucial U.S. inflation data as well as Nvidia quarterly results.

RTTNews | hace 2h 43min

Lower Open Called For Thai Stock Market

The Thai stock market has finished higher in two straight sessions, collecting almost 20 points or 1.6 percent along the way. The Stock Exchange of Thailand now sits just above the 1,260-point plateau although it figures to open in the red on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | hace 3h 23min

Japanese Market Significantly Lower

The Japanese stock market is trading significantly lower on Tuesday, reversing the gains in the previous two sessions, following the broadly negative cues from Wall Street overnight, with the Nikkei 225 falling below the 42,400 level, with weakness across most sectors led by index heavyweights, exporters and financial stocks.

RTTNews | hace 3h 50min

Indonesia Bourse May Hand Back Monday's Gains

The Indonesia stock market on Monday wrote a finish to the two-day slide in which it had fallen almost 85 points or 1.1 percent. The Jakarta Composite Index now sits just above the 7,925-point plateau although it's looking at a soft start on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | hace 3h 53min

Hong Kong Shares May Be Stuck In Neutral On Tuesday

The Hong Kong stock market has moved higher in two straight sessions, improving more than 825 points or 3.4 percent along the way. The Hang Seng Index now rests just beneath the 25,830-point plateau although it may open under pressure on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | hace 4h 8min

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