Equities continued their downward journey Wednesday, anchored by tech and industrial issues, as the fallout from trade tensions continued between the U.S. and Canada.
The TSX dumped 216.49 points to conclude Wednesday at 35,906.56.
The Canadian dollar dipped 0.16 cents to 72.42 cents.
Meanwhile, the U.S. on Tuesday expanded trade restrictions on ?Canada, banning imports of numerous alcoholic beverages, motorcycles ?and dairy products.
The levies followed 50% ?tariffs that the ?U.S. had imposed on some $20 billion of Canadian goods last month after several rounds ?of talks broke down.
In gold issues, Southern Cross Gold gained 44 cents, or 3.8%, to $12.17. while NovaGold collected 36 cents, or 3.3%, to $11.21.
Bird Construction slid $3.38, or 4.6%, to $69.90, while MDA Inc. lost $1.79, or 4.3%, to $39.84.
In telecoms, TELUS sank 25 cents, or 1.9%, to $13.07, while Cogeco Communications dipped $1.01. or 1.7%, to $58.77.
Lithium Americas rose after J.P. Morgan assumed coverage with "overweight" rating. Lithium shares in Canada gained 27 cents, or 2.9%, to $4.41. Elsewhere in materials, Pan American Silver gathered $2.59, or 3.7%, to $73.61.
North West Company climbed $3.85, or 7.8%, to $52.95, after reporting higher revenue in the second quarter.
Shopify slipped $9.90, or 5.4%%, to $175.13, extending declines from the previous session, amid a selloff in software stocks on concerns over AI-led disruptions.
Lightspeed Commerce shed 49 cents, or 3.5%, to $13.57.
In the energy patch, Vermilion Energy picked up 52 cents, or 2.9%, to $18.48, while Whitecap Resources advanced 48 cents, or 2.6%, to $18.70.
ON BAYSTREET
The TSX Venture Exchange dipped 2.56 points to 957.08.
All but four of the 12 TSX subgroups were in the red by noon EDT, with industrials, down 1.1%, consumer discretionary and financials each down 1%.
The three gainers proved to be gold, ahead 0.8%, energy, better by 0.7%, and materials, up 0.4%.
Health-care stocks were unchanged by midday.
ON WALLSTREET
Stocks fell on Wednesday as rising Treasury yields and oil prices continued to rattle investors.
The Dow Jones Industrials tumbled 404.99 points to 52,381.08.
The S&P 500 sank 37.03 points to 7,633.66
The NASDAQ Composite retreated 168.07 points to 26,253.34.
Treasury yields jumped on Wednesday after the Treasury Department said it’s going to triple its buyback operation of longer-dated government debt to $6 billion. The move follows the Treasury Department’s announcement last month that it’s going to at least double the level of government debt buybacks.
Even with the increased buyback plan, yields advanced because some on Wall Street anticipated even bigger repurchases by Treasury Secretary Scott Bessent.
Oil prices rose as escalating tensions between the U.S. and Iran fuel concerns over further disruptions to Middle East energy supplies.
Prices for the 10-year Treasury were lower, raising yields to 4.84% from Tuesday’s 4.79%. Treasury prices and yields move in opposite directions.
Oil prices added $3.56 to $96.60 U.S. a barrel.
Gold prices regained $6.70 to $4,445.70 U.S. an ounce.
