Canadian equities continued to decline for a second consecutive day as renewed trade tensions between the U.S. and Canada rattled investor sentiment. Markets initially tumbled after U.S. president Donald Trump’s tariff hike announcement on Canadian steel and aluminum imports but pared some losses after he walked back the move, though uncertainty remained high. The S&P/TSX Composite Index ended the volatile session with a loss of 133 points, or 0.5%, at 24,248 — extending its weekly decline to over 2%.
While a sharp rally in metals prices pushed the mining stocks higher, a selloff in most other key sectors, including consumer staples, healthcare, and industrials, weighed on the TSX index.
Top TSX Composite movers and active stocks
Tilray Brands, BRP, Telus, and Imperial Oil were the worst-performing TSX stocks for the day, with each diving by more than 4%.
On the flip side, Aya Gold & Silver (TSX:AYA) jumped by about 16% to $11.72 per share, making it the day’s top-performing TSX stock. This rally in AYA stock came after the Ville Mont-Royal-headquartered mining firm announced its February production results.
In February 2025, Aya produced 357,333 ounces of silver at its Zgounder Silver Mine in Morocco, reflecting a slight decline from January due to a planned plant shutdown. Nevertheless, despite reduced mill availability, higher mining rates drove its daily silver output higher to 12,762 ounces. Ore extraction at its Zgounder Mine also surged 37% from January to 68,967 tonnes, helping it maintain a steady processing rate above 2,800 tonnes per day. AYA stock is now up 9% year to date.
First Majestic Silver, IAMGOLD, Capstone Copper, and Orla Mining were also among the session’s top gainers on the Toronto Stock Exchange as they surged by over 8% each.
Based on their daily trade volume data, Canadian Natural Resources, Veren, Whitecap Resources, Manulife Financial, and Suncor Energy were the five most active stocks on the exchange.
TSX today
Commodity prices across the board were mixed in early trading on Wednesday, suggesting that the TSX could see a divided performance at the open today.
Besides the important U.S. consumer inflation report, the Bank of Canada’s interest rate decision and press conference will remain TSX investors’ key focus today, with the Canadian central bank widely expected to cut rates further. Also, the U.S.-Canada trade tensions remain a key factor influencing market sentiment, with investors closely watching for any policy updates or retaliatory measures.
On the corporate events front, the TSX-listed Algoma Steel and Bird Construction will announce their latest quarterly results today after the market closing bell.
Market movers on the TSX today
