Canadian Stocks Seeing Modest Weakness

(RTTNews) - After showing a lack of direction early in the session, Canadian stocks have moved slightly lower over the course of the trading day on Tuesday.

Currently, the benchmark S&P/TSX Composite Index is off its lows of the session but still down 28.19 points or 0.1 percent at 26,540.52.

The modest weakness on Bay Street comes amid renewed concerns about the ongoing clash between Israel and Iran.

While reports hinting at an end to hostilities contributed to a rally on Monday, news that President Donald Trump left a G7 summit early to focus on the conflict has led to worries about further escalation.

In a post on Truth Social, Trump said French President Emmanuel Macron mistakenly said he left the summit in order to work on a cease fire between Israel and Iran.

"He has no idea why I am now on my way to Washington, but it certainly has nothing to do with a Cease Fire," Trump said. "Much bigger than that."

Healthcare stocks are turning in some of the market's worst performances on the day, with the S&P/TSX Capped Health Care Index tumbling by 1.5 percent.

Telecom stocks are also seeing notable weakness, while strength among energy stocks has helped limit the downside for the markets amid a rebound by the price of crude oil.