Consumer and corporate optimism have faded in recent weeks as markets began to contend with the possible consequences of Trump’s agenda.

U.S. tariffs that took effect on Tuesday are threatening to derail Canada's fledgling economic recovery and will fuel a rise in consumer prices and unemployment, potentially triggering a recession.

A string of weaker-than-expected data has economists' projections for first quarter economic growth sliding. On Monday, two separate releases showed activity in the manufacturing sector slowed in February while construction spending fell more than anticipated in January.