Canadian equities continued to dive for the third consecutive session on Monday as U.S. president Donald Trump threatened to impose additional 50% tariffs on Chinese goods if it doesn’t withdraw its 34% retaliatory levy on American exports. As fears of an escalating global trade war and a prolonged economic standoff weighed heavily on investor sentiment, the S&P/TSX Composite Index gave up another 334 points, or 1.4%, to close at 22,859.
Despite a minor recovery in some technology stocks, heavy losses in most other key sectors, including consumer, energy, and financials, dragged the broader index deeper into negative territory.
Top TSX Composite movers and active stocks
NGEx Minerals, TMX Group, ATS, and Great-West Lifeco plunged by over 5% each, making them the worst-performing TSX stocks for the day.
In contrast, Ivanhoe Mines (TSX:IVN) climbed by 8.6% to $11.15 per share, trimming its month-to-date losses to 8.8%. This rally in IVN stock came after the Vancouver-based metals miner reported a substantial boost in hydroelectric power availability at its Kamoa-Kakula copper complex.
The additional power enabled Ivanhoe to achieve record copper production rates in late March and has accelerated the start-up timeline for its state-of-the-art smelter, which is expected to begin producing 99.7% pure copper anodes by July. Investors also reacted positively to the company’s reaffirmed 2025 production guidance.
Celestica, Endeavour Silver, and Lundin Gold were also among the top gainers on the Toronto Stock Exchange, with each rising at least 3%.
Based on their daily trade volume, TD Bank, Canadian Natural Resources, Bank of Nova Scotia, TC Energy, and Manulife Financial were the five most active stocks on the exchange.
TSX today
Following a sharp three-day slide, commodities managed a mild recovery in early trading on Tuesday, pointing to a potentially steadier open for the resource-heavy TSX benchmark today.
While any updates on U.S.-China trade negotiations and global trade policy could sway sentiment throughout the day, Canadian investors may also want to keep an eye on the domestic purchasing managers’ index data this morning.
On the corporate events front, the TSX-listed Tilray Brands will announce its latest quarterly financial results today. Street analysts expect the cannabis company to report a net loss of US$31.9 million for the February quarter with US$210 million in revenue.
Market movers on the TSX today
