Canada’s main stock index finished lower on Monday as a sharp increase in oil prices sparked fresh inflation worries ahead of major economic data releases on both sides of the border. Investors are concerned that higher energy costs may keep inflation elevated, forcing central banks to maintain higher interest rates for an extended period. US President Donald Trump has signed five proclamations banning imports of Canadian alcohol, motorcycles, and several other products into the United States effective Sept. 29, while imposing 50% tariffs on a range of additional Canadian goods starting next week.
South of the border, US markets also weakened after ending last week on a positive note. Oil prices rose after President Trump turned down a peace offer from Iran that would have helped ease tensions and restore shipping through the Strait of Hormuz.
| TSX | 35,489.86 | -311.03 |  |
| TSXV | 894.25 | -26.76 | |
| CSE | 168.10 | -2.52 | |
| DJIA | 51,481.51 | -347.11 | |
| NASDAQ | 26,820.38 | -248.34 | |
| S&P 500 | 7,683.69 | -59.72 | |
The Canadian dollar traded for 70.54 cents US compared to 70.69 cents US on Friday.
US crude futures traded US$0.52 higher at US$92.93 a barrel, and the Brent contract rose US$1.45 to US$105.80 a barrel.
The price of gold was down US$158.19 to US$4,119.80.
In world markets, the Nikkei was down 486.58 points to ¥65,877.62, the Hang Seng was up 132.42 points to HK$24,642.51, the FTSE was down 10.37 points to ₤10,684.88, and the DAX was down 34.22 points to €25,374.42.