Canadian Stocks Dip as Trudeau Resigns, US Markets Mixed

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STOCK MARKET,CANADA,TRUDEAU

Canada's main stock index closed slightly lower on Monday following Prime Minister Justin Trudeau's announcement to step aside. While US stock markets showed mixed results, large tech stocks led gains south of the border, mirroring their strong performance throughout 2024. Analysts suggest Trudeau's resignation, coupled with the uncertainty surrounding the capital gains tax proposal, might have contributed to the market's cautious response.

TORONTO — Canada's main stock index closed slightly lower on Monday after Prime Minister Justin Trudeau officially announced he plans to step aside, while U.S. stock markets were mixed.

Given the criticism of the capital gains tax change, which has yet to pass but would have raised taxes on companies and some individuals, “that's certainly been looked on favourably,” said Currie. South of the border, large tech stocks led gains, echoing the leadership position they held for much of 2024.

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