Canada's main stock index fell on Friday, as energy shares were hit by a more than 2pc drop in oil prices following US President Donald Trump's shock threat of tariffs on Mexico.
At 9:40 a.m. ET (13:40 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 118.53 points, or 0.74pc, at 15,970.71, on track for its first monthly decline this year.
Trump's directive also spelled the potential for chaos for the US Congress approval of USMCA deal, which was negotiated as a replacement to the North American Free Trade Agreement between the United States, Mexico and Canada.
Meanwhile, latest data showed the Canadian economy grew slower than expected in the first quarter, although market participants were heartened by signs of a strong recovery in March.
Ten of the index's 11 major sectors were lower, dragged down by a 1.7pc fall in the energy sector.
US crude prices were down 2.8pc a barrel, while Brent crude lost 3.0pc, tracking their biggest monthly drop in six months.
The heavyweight financials sector slipped 1.2pc and the industrials sector shed 0.8pc.
Among notable gainers was the materials sector. The sector, which includes precious and base metals miners and fertilizer companies, added 1.6pc.
The largest percentage gainers on the TSX were Yamana Gold Inc and Iamgold Corp, which rose 5.6pc and 4.7pc, respectively.
Investors' flight to safer assets boosted gold prices. Gold futures rose 0.8pc to $1,297.9 an ounce.
On the TSX, 46 issues were higher, while 194 issues declined for a 4.22-to-1 ratio to the downside, with 18.64 million shares traded.
BRP Inc fell 5.7pc, the most on the TSX, while the second-biggest decliner was Nuvista Energy, down 5.0pc.
The most heavily traded shares by volume were Avalon Advanced Materials, Aurora Cannabis Inc and First Quantum Minerals.
The TSX posted two new 52-week highs and ten new lows.
Across all Canadian issues, there were 27 new 52-week highs and 26 new lows, with total volume of 33.10 million shares.
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