The S&P/TSX Composite Index fell around 0.4% to below the 24,910 mark on Monday, trimming last week’s 1% advance, as sliding oil prices and renewed trade-policy tensions pressured Canadian equities.
Energy producers led the decline, with shares of Canadian Natural, Suncor, Imperial Oil, and Cenovus dropping between 1.6% and 2.7%, after OPEC+ announced a second consecutive month of accelerated output increases.
Meanwhile, President Trump’s unexpected 100% tariff on foreign-produced films reignited concerns over broader retaliatory measures that could weigh on global demand for Canadian resource exports.
Mixed signals from Beijing regarding U.S. trade talks further dashed hopes for a near-term resolution.
