FX.co ★ TSX Drops Amid Economic Slowdown

The S&P/TSX Composite Index experienced a slight decline of 0.1%, closing at 24,842 on Wednesday. This came as investors evaluated the growing signs of weakening economic activity in North America and ongoing challenges due to trade policies. In Canada, the economy contracted by 0.2% in February, largely attributed to a 2.5% drop in mining and oil-and-gas production, alongside a 0.5% decrease in construction, underscoring diminished demand in the country's commodity-heavy sectors. Similarly, U.S. markets fell sharply after first-quarter GDP figures revealed an unexpected contraction, highlighting the early adverse impacts of tariff threats and increased policy uncertainty during the Trump administration. Almost every sector on the TSX recorded declines, with Shopify—a major player in consumer spending—leading the losses with a 4.2% drop. Prominent energy companies, including Canadian Natural, Suncor, Imperial Oil, and Cenovus, saw declines between 2.4% and 3.2%. Overall, the TSX recorded a 1.5% loss for April.