The TSX slipped 0.4% to finish at 26,904 on Tuesday, as a convergence of external pressures and domestic softness unsettled Canada’s equity leadership. Miners bore the brunt of the downturn after gold retreated sharply - Agnico Eagle, Wheaton Precious Metals, Barrick, and Franco-Nevada each surrendered 4.0–6.2% - and copper producers also pulled back on weaker base-metal benchmarks, as traders fretted that President Trump’s looming August?1st tariff measures could dampen global industrial activity. In contrast, the energy sector provided a modest floor, with oil benchmarks recovering from recent lows to lend support. Yet the industrials group faltered after the IVEY Purchasing Managers Index surprised on the downside at 53.3, far below June 2024’s 62.5, underscoring a broad slowdown in private-sector growth.