Canada’s main stock index experienced a downturn on Monday, ending its recent streak of gains due to declines in energy shares. Renewed criticism from US President Donald Trump towards Federal Reserve Chair Jerome Powell also raised concerns about the central bank’s independence, intensifying risk-off sentiment.
China accused the United States of misusing tariffs and issued a warning to other countries. This followed reports that President Trump’s administration was pressuring nations to limit trade with China, the world’s second-largest economy. The Canadian stock market also mirrored Wall Street’s movements, where index futures fell after Trump’s harsh remarks about Fed Chair Powell sparked worries regarding the central bank’s autonomy. US stocks also declined as traders saw little progress in global trade negotiations.
