TSX Sheds 0.8%, Headed For Another Weak Close

(RTTNews) - The Canadian market is down firmly in negative territory on Tuesday with stocks from consumer discretionary, technology, communications and financials sectors reeling under sustained selling pressure.

The mood remains quite cautious amid concerns about geopolitical tensions and tariffs and worries about inflation and interest rates.

The benchmark S&P/TSX Composite Index was down 284.50 points or 0.79% at 36,229.30 a little while ago.

Shopify is down more than 7%. BRP is declining by about 6.5%. Thomson Reuters, Descartes Systems Group, Kinaxis, Constellation Software, CGI Inc., Canada Goose Holdings, FirstService, Cargojet and Lightspeed Commerce are down 3%-6%.

Altus, Magna International, Colliers International Group, Enghouse Systems, Linamar Corp., Open Text Corporation, Fairfax Financial Holdings, Tilray, Martinrea International and Gildan Activewear lost 2%-3%.

Bombardier slipped nearly 3% after U.S. President Donald Trump threatened to ban the sale of Bombardier jet planes unless they are manufactured in the United States.

"No more selling Bombardier in The United States! Their products aren't good enough! Over 50% of their revenue comes from the United States — They live off American Buyers, American Companies, American Airports, and American Service — All while Canada blocks our GREAT American Banks, and Companies, throughout the U.S.A.," Trump said in a Truth Social post on Monday.

Ivanhoe Mines soared nearly 13%. Ero Copper jumped 11%, while Celestica, Hudbay Minerals and Lundin Mining gained 6%-6.6%.

Aecon climbed 5%. Teck Resources, TransAlta, First Quantum Minerals, Finning International, Broofield Renewable, Northland Power, Ballard Power Systems, Capital Power, Eldorado Gold, BlackBerry, Cenovus Energy, Toromont Industries, Mattr Corp, Kelt Exploration, Altagas and Imperial Oil gained 1.3%-4%.