Canada’s main stock index plummeted further on Monday as recession concerns grew, following US President Donald Trump’s stubborn stance on his extensive tariff plans, which sent ripples through global markets. The TSX had not been this low since September 2024.
US stocks took another big hit as the White House stood firm after President Trump’s announcement of unexpectedly high tariff rates on major US trading partners, triggering a three-day market downturn. The Dow experienced consecutive losses exceeding 1,500 points for the first time ever, including a 2,000-plus-point drop on Friday. The S&P 500 fell sharply on Friday, marking its worst performance since the pandemic began in March 2020, and lost 10 per cent over two days. The NASDAQ entered a bear market on Friday, down 22 per cent from its peak, following nearly 6 per cent losses on both Thursday and Friday.
| TSX | 22,859.46 | -334.01 |  |
| TSXV | 567.42 | -8.50 | |
| CSE | 107.11 | -1.84 | |
| DJIA | 37,965.60 | -349.26 | |
| NASDAQ | 15,603.26 | +15.48 |  |
| S&P 500 | 5,062.25 | -11.83 | |
The Canadian dollar traded for 70.40 cents US compared to 70.25 cents US on Friday.
US crude futures traded US$1.04 lower at US$60.95 a barrel, and the Brent contract lost US$1.18 to US$64.40 a barrel.
The price of gold was down US$68.48 to US$2,968.49.
In world markets, the Nikkei was down 2,644.00 points to ¥31,136.58, the Hang Seng was down 3,021.51 points to HK$19,828.30, the FTSE down 352.90 points to ₤7,702.08, and the DAX was down 852.10 points to €19,789.62.
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