(fxcue news) - The Canadian market closed marginally down on Wednesday as tariff threats by U.S. President Donald Trump rendered the mood a bit cautious. The start was very weak, but stocks recovered gradually and the market very nearly broke into positive territory in the final hour. The benchmark S&P/TSX Composite Index ended down 22.68 points or 0.09% at 25,626.16, recovering more than 200 points from an early low of 25,439.39. The early weakness was due to Trump's threat to impose a 25% tariff on autos, alongside similar duties on semiconductors and pharmaceuticals. Investors digested a slew of earnings announcements, and looked ahead to some crucial economic data, due later in the week. Hudbay Minerals plunged 13.3% after reporting lower Q4 net income and revenues while also saying it expects lower gold production in FY 2025 than in 2024. Fourth-quarter net income attributable to owners fell to $21.2 million, or $0.05/share, from $30.7 million, or $0.10/share, in the year-ago quarter. Gibson Energy and Sandstorm Gold closed down by about 8% and 7.1%, respectively. Ero Copper ended 5.5% down, and First Quantum Minerals closed lower by 4.3% after it announced offering of $750 million of senior note. Capstone Mining, NexGen Energy, Cargojet, BlackBerry, Ivanhoe Mines, Torex Gold Resources, CAE and Cameco Corporation were among the other major losers. SSR Mining soared nearly 13% after reporting adjusted net income of $21.3 million in the fourth quarter of 2024. Gildan Activewear rallied 4.1% said it expects 2025 adjusted earnings in a range of $3.38 to $3.58 per share on a revenue decline in the mid-single-digit range. For the first quarter of fiscal 2025, the company said net sales are expected to be up low single digits year over year. Canadian Tire Corporation gained 3.65%. announced a definitive agreement to sell its Helly Hansen business to Kontoor Brands, Inc. (KTB) for $1.276 billion. The transaction is set to close in the second quarter of 2025. AtkinsRealis gained 5.1%. NorthWest Company, Riocan REIT, NuVista Energy, MDA Space, Bausch Health Companies, Parex Resources, Advantage Oil & Gas, Dollarama, Barrick Gold Corporation, Aecon Group, Tourmaline Oil Corp, Saputo, ATCO, Bombardier and MEG Energy Corp gained 2.3 to 4%.