Canada’s main stock index fell on Friday weighed down by mining and telecom stocks amid worries that tariffs imposed by the Trump administration will hurt the economy and stoke inflation.
Toronto Stock Exchange’s S&P/TSX composite index TSX was down 0.8% at 24,858.59.
Capped communication (.GSPTTTS) was the biggest loser and down 2%, while the materials sector 
TTMT fell 1.4% due to lower gold prices.
Despite the day’s losses, the benchmark index was up 1.2% so far this week, primarily benefiting from the U.S. Federal Reserve’s projections of interest rate cuts for the year.
The Bank of Canada last week raised concerns about inflationary pressures and weaker growth stemming from trade uncertainty after U.S. President Donald Trump’s tariffs.
“A lot of this is still reacting based on the looming threat of a protracted trade war with the United States,” said Shiraz Ahmed, senior portfolio manager and founder of Sartorial Wealth at…
