Canadian equities tanked sharply on Thursday as escalating global trade tensions and a broad-based selloff in commodities weighed heavily on investor sentiment. The S&P/TSX Composite Index plunged by 971 points, or 3.8%, to settle at 24,336 — marking its worst single-day decline since March 2020.
While some consumer staple and utility stocks managed to limit their losses due to their defensive nature, the overall market was dragged down by steep declines in sectors like technology, healthcare, and energy.
Investors fear that Trump’s recent tariffs on imports from most major trading partners, including a 25% levy on foreign-made vehicles, could trigger a new wave of retaliation, further hurting global trade and economic growth.
Top TSX Composite movers and active stocks
Aritzia, Shopify, Celestica, and Capstone Copper led the TSX laggards for the day, each plunging by 15% or more.
On the flip side, Lundin Gold, Hydro One, Loblaw…
