Canadian Stocks Tumble as Cannabis Shares Surge on Reclassification Hopes

Toronto stocks fell 1% with the S&P/TSX Composite Index at 31350.47, while the blue-chip S&P/TSX 60 declined by 0.8% to 1839.40. Canadian cannabis stocks surged on a report that President Trump plans to call for the reclassification of cannabis to a schedule III drug. Tilray rose 28%, Aurora 15%, Canopy 33%, and Cronos Group 8.4%. Canadian wholesale trade increased 0.1% in October, and the total value of building permits rose 14.9% to C$13.82 billion.