Toronto Stocks Retreat; Bombardier Down on Trump Aircraft-Decertification, Tariff Threats

By Adriano Marchese

Stocks in Toronto were sharply lower on the back of falling gold and silver prices.

Nearly all sectors were lower midday Friday, with commodities as the outsized decliners, followed by tech and commercial services. Only health-tech stocks posted any gains in the session.

On the broader economic front, the Canadian economy was essentially unchanged in November as goods-producing industries weakened for a third month in the last four. Gross domestic product, a broad measure of goods and services produced across the economy, was dragged down by declines in manufacturing and forestry as tariffs and uncertainty continue to weigh.

Canada's S&P/TSX Composite Index fell 2.8%, to 32096.55, and the blue-chip S&P/TSX 60 fell by 2.4%, to 1861.73.

Shares of business-jet maker Bombardier fell 5.4%, to 234.21 Canadian dollars (US$173.61), after President Trump warned he could block certification of Canadian-built aircraft and impose tariffs in response to what he called Canada's refusal to approve U.S.-made Gulfstream jets.

Other market movers:

Canada's large miners, Barrick Mining and Kinross Gold were down sharply, their shares falling 9%, to C$63.85, and 9.7%, to C$44.55, respectively.

Smaller miners also dragged, with Aya Gold & Silver falling 13%, to C$22.24; Silvercorp Metal down by 13%, to C$14.23; and Discovery Silver off over 14%, to C$9.60.

Canadian National Railway shares fell after the company's 2026 guidance came in softer than expected despite posting strong fourth-quarter earnings.

ADF Group shares rose 9.6%, to C$8.80, after it said it has secured C$140 million of new contracts in Canada and the U.S. for its steel superstructures.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

January 30, 2026 12:31 ET (17:31 GMT)