Canadian equities slipped into the red on Monday, as investor sentiment was dampened by renewed tariff concerns sparked by US President Donald Trump. Market participants were also cautious ahead of the Federal Reserve’s upcoming decision on interest rates.
On Sunday, Trump announced a 100 per cent tariff on films produced outside the United States, claiming that the American movie industry was in rapid decline due to foreign incentives attracting filmmakers.
Meanwhile, US markets had a down start to the week. Hopes for progress on trade agreements were overshadowed by the unexpected announcement of new tariffs on foreign-made films, adding to investor uncertainty.
The Canadian dollar traded for 72.36 cents US compared to 72.48 cents US on Friday.
US crude futures traded US$1.15 lower at US$57.14 a barrel, and the Brent contract lost US$1.02 to US$60.27 a barrel.
The price of gold was up US$91.55 to US$3,332.97.
In world markets, the Nikkei remained at ¥36,830.69, the Hang Seng remained at HK$22,504.68, the FTSE remained at ₤8,596.35, and the DAX was up 257.89 points to €23,344.54.
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