Canada: TSX Eases From Record High.

The S&P/TSX Composite slipped 0.2% to close at 27,023 on Friday, reversing from record highs after President Trump’s surprise decree of a 35% tariff on all non-USMCA Canadian imports unsettled both financials and export-reliant sectors. Canada’s financial giants RBC, Brookfield, BMO and Scotiabank, led the sell-off with losses of 0.6% to 1.1%, while export-sensitive rail giants Canadian Pacific and Canadian National tumbled 0.9% and 0.7%, respectively as investors braced for choked cross-border flows. Domestic resilience - underscored by June’s robust labour report, which added 83,100 jobs and drove unemployment down to 6.9%, and a 12% leap in May building permits to C$13.1 billion - dented expectations for a July 30th Bank of Canada rate cut. The TSX posted modest weekly declines.