From Suncor to Shopify, Canadian stocks whipsaw on recession fears

This was supposed to be a blowout year for Canadian equities, benefiting from soaring commodity prices and a forceful post-pandemic rebound in consumer spending.

The S&P/TSX Composite Index declined 11 per cent in the first half of 2022 as recession fears weighed on the value-heavy market, outperforming the S&P 500 Index, which fell 21 per cent. Underscoring the market effects of inflation, Suncor Energy, one of Canada’s largest energy companies, soared 43 per cent, while Shopify Inc. plunged, losing more than $170 billion in market capitalization.

Here’s a look at some of the standout stock movers of the first half: