Market Snapshot
Toronto started the day in the red. By 9:53 a.m., the S&P/TSX Composite Index was down 0.4%, and every sector but energy was losing ground. Higher oil prices gave energy names the only lift.
The slowdown was not just a Canada story either. In the U.S., the S&P 500 slipped 0.2% and the Nasdaq 100 was little changed. Scotiabank economist Derek Holt, who serves as vice-president and heads capital markets economics, said, "Stocks are falling basically everywhere," and linked the slump to worries about interest rates, inflation and AI.
What Ottawa Is Pitching
The Policy Sweetener
Carney also broadened a key corporate tax incentive on Tuesday, enlarging the types of assets that qualify for accelerated write-offs. The scope now covers assets such as oil and gas pipelines and mining property, along with other classes aimed at letting firms deduct costs more quickly when they invest in Canada.
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Why It Matters For Your Money
Markets are wobbling on the familiar trio of rate, inflation and AI uncertainty, and Canada is trying to counter with a big ask to global capital plus richer tax write-offs to nudge projects forward. If oil stays firm, energy could keep bucking the trend, while the new tax treatment may tilt some project math in favor of investing in Canada. The bigger picture for your wallet: the policy mix and project pipeline Ottawa is showcasing could shape where growth - and jobs - show up over the next few years.
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