(fxcue news) - The Canadian market is down in negative territory around noon on Wednesday, with stocks from technology, financials, real estate and materials sectors under pressure. The mood is cautious with investors assessing U.S. President Donald Trump's threat of tariffs on semiconductors, automobile and pharma products. The benchmark S&P/TSX Composite Index is down 79.10 points or 0.31% at 25,569.74 a little before noon. The index dropped to a low of 25,439.39 earlier in the session. HudBay Minerals is plunging nearly 17% 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. Sandstorm gold is down more than 12%. Gibson Energy is tumbling 7.6%. Ero Copper, Tilray, NexGen Energy, Intact Financials, Osisko Gold Royalty, CAE Inc., First Quantum Minerals, Cargojet, Cameco Corporation, Aritzia Inc, Restaurant Brands International and MAG Silver Corp are down 3 to 5%. First Quantum Minerals Ltd. (FM.TO) is down 2.7%. The company announced offering of $750 million of senior notes. The company intends to use net proceeds from the offering together with cash on balance sheet, to partly repay its revolving credit facility, to fund the concurrent partial tender offer for its existing 6.875% senior notes due 2027. SSR Mining is climbing nearly 13% after reporting adjusted net income of $21.3 million in the fourth quarter of 2024. AtkinsRealis is up nearly 7%. Gildan Activewear is gaining 3.2% after the company 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. iA Financial Corp is up 5.2%. Canadian Tire Corporation is up 4.2%. Canadian Tire Corporation 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. Peyto Exploration, MDA Space, NuVista Energy, Innergex Renewables, Aecon Group, Parex Resources, Boralex, Algonquin Power, Tourmaline Oil Corp, Keyera Corp, Advantage Oil & Gas, Saputo, Birchcliff Energy and Brookfield Renewable are gaining 1.5 to 3.4%.