Canadian Exporters Slump as U.S. Tariffs Take Effect, TSX Holds Flat
Dow Jones
Aug 24
1024 ET - Heavyweight industrial and export-focused Canadian names are bearing the brunt of a sell-off as markets digest U.S. cross-border supply chain disruption. Among the biggest decliners are manufacturing and auto-parts stocks like Magna International, Linamar and also transformers and electrical equipment manufacturer Hammond Power Solutions, all of which face immediate headwinds under the non-CUSMA content penalties. Aerospace, materials and tech growth plays are also pulling back, including business-jet maker Bombardier, BlackBerry, specialty semiconductor producer 5N Plus and satellite maker MDA Space. Toronto indexes, however, remain flat as gains in mining, metals and financials offset the pressure.
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