The S&P TSX Composite Index edged lower below the 33,000 mark on Monday, easing from last week’s record high as firmer inflation data and a broader pullback from risk assets weighed on sentiment. Annual inflation unexpectedly accelerated in December, reviving concerns over price pressures even as the Bank of Canada’s preferred core measures surprised on the downside, leaving the policy outlook mixed. Shopify led declines with losses of nearly 2%, while Canadian Pacific and Canadian National Railways fell more than 1%. Bank stocks were also under pressure amid concerns that higher borrowing costs could exacerbate household credit stress and delinquencies. In contrast, Agnico Eagle and Wheaton Precious gained over 1%, supported by higher gold prices after President Donald Trump threatened tariffs on selected European countries, boosting demand for bullion.