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Loonie outperforms after Trump tariff threat over Canadian wildfires
Trump threatened Canada with tariffs over wildfires, and the Canadian dollar was the top performer as markets treated the comments as less certain.
Markets opened with worries about an open source AI model, Kimi K3, and the potential impact on chip spending, sending chip stocks and the Nasdaq lower at the start.
Later, higher oil prices weighed on equities, while gold rebounded after Goldman Sachs reported increased central bank buying.
The day also included a political headline, with Trump threatening Canada with tariffs over wildfires, and traders appeared to discount the risk, with the loonie performing best among currencies as other market factors dominated intraday moves.
Latest closeGold $3,981.40 ▼1.6%|Nasdaq Comp. 25,881.95 ▼1.5%