Tariffs, AI and Iran worries pressure markets

Investors were climbing a wall of worry on Monday, starting with the confusion wrought by Trump imposing 15% tariffs across the globe, though limited to 150 days, in reaction to the U.S. Supreme Court striking down his previous tariffs. Meanwhile, the AI sell-off continued in sectors like software while Trump threatens to invade Iran. All this added up to 1.04% loss on the S&P while the Nasdaq sank 1.13% and the Dow lost 1.66%. The TSX fared better, actually making new all-time highs in the morning, sinking throughout the day, but finishing the session off its lows. The TSX slipped only 0.12% or 41 points. Market anxiety lifted gold by US$120 to US$5,228, and silver by 4.25% to US$88.10. WTI held at US$66.40.

In Toronto, five sectors gained, led by outsized moves in staples and materials while tech and industrials lagged the most. Major movers: Fortuna 9%, Lundin Gold 7.25%, Manulife -1.85%, Goeasy -7.75% and Shopify -7.07% In New York, PayPal suged 5.76%, Tesla closed -2.91%, IBM -13.15%, Crowdstrike -9.85% and Amazon -2.3%. Bitcoin sank nearly US$2,900 to US$64,700 while the U.S. 10-year yield slipped to 4.033%

🥈 Fortuna Silver Mines (FVI-T) +9%

🥇 Lundin Gold Inc. (LUG-T) +7.25%

🏛 Manulife Financial (MFC-T) -1.85%

🏛 goeasy (GSY-T) -7.75%

🛍 Shopify Inc. (SHOP-T) -7.07%

💳 PayPal Holdings Inc. (PYPL-Q) +5.76%

🚗 Tesla Inc (TSLA-Q) -2.91%

💾 IBM Common Stock (IBM-N) -13.15%

🧬 CrowdStrike Holdings (CRWD-Q) -9.85%

📦 Amazon.com, Inc. (AMZN-Q) -2.3%