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CANADA STOCKS-TSX falls 1.2% as trade policy chaos spooks investors
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CANADA STOCKS-TSX falls 1.2% as trade policy chaos spooks investors
Mar 6, 2025 1:50 PM

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TSX ends down 1.2% at 24,584.04

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Tech falls 3.3% with Celestica ( CLS ) down 10.4%

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Financials end 1.7% lower

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Aecon Group ( AEGXF ) tumbles 16.1% on revenue miss

(Updates at market close)

By Nikhil Sharma and Fergal Smith

March 6 (Reuters) - Canada's main stock index fell on

Thursday, weighed by declines for technology and financial

shares, as the rapid pace of U.S. policy shifts on trade hurt

investor sentiment globally.

The S&P/TSX composite index ended down 286.78, or

1.2%, at 24,584.04, giving back nearly all of the previous day's

rally.

U.S. benchmark, the S&P 500, posted even steeper declines,

while the tech-heavy Nasdaq confirmed it was in a correction

since December.

U.S. President Donald Trump exempted goods from both Canada

and Mexico under a North American trade pact for a month from

the 25% tariffs that he had imposed earlier this week, the

latest twist in fast-shifting trade policy that has whipsawed

financial markets and business leaders.

"The challenge is that no one can really anticipate or

predict what Trump is going to do at any given point in time,"

said Shiraz Ahmed, senior portfolio manager and founder of

Sartorial Wealth at Raymond James.

"The anxiousness is likely spilling over into the markets at

the moment ... The market and everybody are just walking on egg

shells and anticipating more bad than good."

Canada's trade surplus widened much more than expected to

C$4 billion ($2.80 billion) in January as fears of U.S. tariffs

pushed exports of cars and energy products higher.

The Toronto market's technology sector fell 3.3%, with

shares of electronic equipment company Celestica Inc ( CLS ) down 10.4%.

The sector was trading roughly 14% below the all-time closing

high it posted three weeks ago.

Heavily weighted financials fell 1.7%, while utilities ended

2% lower as bond yields climbed.

The materials group, which includes fertilizer companies and

metal mining shares, was down 1.1% as the price of gold

edged lower.

Shares of Aecon Group Inc ( AEGXF ) tumbled 16.1% after the

construction company fourth-quarter revenue expectations.

($1 = 1.4305 Canadian dollars)

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