The S&P/TSX Composite Index fell 0.6% to close at 35,907 on Wednesday after the US expanded trade restrictions on Canada. The US banned imports of numerous alcoholic beverages, motorcycles and dairy products, following 50% tariffs imposed last month on about $20 billion of Canadian goods and retaliatory tariffs from Canada. Saputo lost 0.7%, Canada Packers shed 3.1%, and BRP fell 4%. Meanwhile, intensifying Middle East hostilities pushed oil prices higher, rekindling inflation fears ahead of Friday’s US CPI data. Banks came under pressure amid increased rate-hike expectations, with RBC and TD Bank down 0.9%, BMO losing 1.3%, and CIBC shedding 1.5%. Miners gained on higher gold prices, with Agnico Eagle adding 0.7%, Barrick rising 1.2%, and WPM up 1.4%. Lithium Americas jumped 6.5% after J.P. Morgan initiated coverage with an “overweight” rating.