Trump’s tariffs-driven selloff in Canadian stocks accelerated further on Friday as China’s retaliation and expectations of a prolonged trade war rattled global markets. The S&P/TSX Composite Index fell another 1,142 points, or 4.7%, to close at 23,193, marking a second straight session of steep losses.
While all key market sectors ended the session deep in the red, the heaviest losses were seen in energy, materials, and financial stocks, reflecting mounting fears over global demand and disrupted supply chains. With this, the TSX benchmark concluded the week with a 6.3% decline — its steepest weekly percentage drop since June 2022.
Top TSX Composite movers and active stocks
Baytex Energy, SECURE Waste Infrastructure, Vermilion Energy, New Gold, and Enerflex were the worst-performing TSX stocks for the day, with each plunging by at least 12.7%.
Despite the broader market selloff, TFI International (TSX:TFII) saw renewed buying and climbed by 5.8% to $113.02 per share. This rally in TFI stock came after the Saint Laurent-based transportation and logistics firm announced the release date for its first-quarter 2025 results, scheduled for April 23.
Investors’ high expectations from TFI’s upcoming earnings report likely reflect confidence in the company’s ability to navigate a challenging macro environment. However, despite recent gains, TFI stock is still down 42% year to date.
Jamieson Wellness and Aritzia also climbed by 1.7% each, making them rare gainers on the Toronto Stock Exchange in an otherwise deeply negative session.
Based on their daily trade volume, Canadian Natural Resources, Baytex Energy, Toronto-Dominion Bank, Suncor Energy, and Whitecap Resources were the five most active stocks on the exchange.
TSX today
Commodity prices across the board continued to fall sharply in early trading on Monday. Meanwhile, global equities markets also felt the heat as investors remained on edge over the deepening trade rift between the U.S. and its major partners. Given these pressures, the TSX could extend last week’s losses at the open today as investor sentiment remains fragile.
While no major economic releases are due this morning, Canadian investors may look to global headlines for cues. Developments in trade negotiations, commodity markets, and any signals from central banks could all influence trading direction.
Market movers on the TSX today
