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Shopify Sends the TSX to a Record as Asia's Chip Stocks Get Hammered

  Thursday August 6, 2026 Canadian investors woke up to a split-screen market this morning. At home, the TSX is coming off its best day in more than three months, powered by a blowout Shopify earnings report and a fresh leg up in gold. Overseas, it's a very different story: South Korea's Kospi cratered nearly 5% overnight as chip giants SK Hynix and Samsung got dumped, and Japan's Nikkei gave back some of Wednesday's gains too. Here's everything moving your money today. 🍁 TSX: Fresh Record on Shopify's Big Beat The S&P/TSX Composite jumped 344.82 points, or 0.96%, to close at an all-time high of 36,146.42 on Wednesday, touching an intraday peak of 36,443.29 along the way. It was the index's biggest one-day percentage gain in over three months, and futures are pointing higher again this morning. The star of the show was Shopify , which surged more than 20% in premarket trading after issuing an upbeat revenue outlook that suggested its AI tools are pulli...
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Canada Strikes Back with $29.8 Billion in Tariffs on U.S. Goods

 

In a bold move to counter U.S. tariffs on Canadian steel and aluminum, Canada has announced retaliatory tariffs worth $29.8 billion. The new measures, set to take effect on March 13, 2025, will impose a 25% tariff on a range of U.S. imports, including steel, aluminum, computers, sports equipment, and cast-iron products.

Canadian Finance Minister Dominic LeBlanc emphasized the importance of protecting Canada's industries, stating that these tariffs are a direct response to the U.S.'s "unjustified" actions. The Canadian government has also introduced measures to support affected workers and businesses, including financial aid and trade programs.

This development marks a significant escalation in trade tensions between the two nations, with both sides standing firm on their positions. The impact of these tariffs is expected to ripple through industries on both sides of the border, potentially affecting prices and supply chains.

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