It was a down day for Canada’s main stock exchange as industrial and material sectors dragged down earlier gains in energy shares.

At the closing bell, the TSX fell fourteen points to 16,421, with seven of eleven major sectors reporting lower earnings at midday.

Oil also dipped slightly, down $0.47 to $67.79 a barrel.

But a US analyst warns that an ominous tweet by Trump aimed at Iran could cause oil prices to jump substantially, in the event of a war on the Persian Gulf.

And with oil jumping 20-percent over the first six months of 2018, there are fears that a continued rise in crude oil prices could spark the next recession.

The loonie dropped 12/10000 of a cent to $0.7595 U.S.

Meanwhile gold tumbled almost six dollars, closing in on a one-year low at $1,225 an ounce.