The 10 Worst-Performing Stocks on Monday

8. Canadian Pacific Kansas City Ltd. (NYSE:CP)

Shares of Canadian Pacific, a railway holding company, saw its share prices drop by 6.09 percent on Monday to finish at $74.75 apiece as investor sentiment was weighed down by fears of brewing trade conflict between Canada and the US, amid the latter’s imposition of tariffs on Canadian goods.

On Saturday, President Donald Trump officially signed the US’ slapping of 25-percent taxes on Canadian goods, albeit the move was delayed for a month to give US companies a chance to look for alternative partners and supplies.

The tariff imposition pushed Loop Capital Markets to downgrade its outlook for Canadian Pacific from “buy” to “sell” suggesting a bearish short-term outlook.

According to Rick Paterson, analyst at Loop Capital, the company’s unique exposure to trade between the United States and Canada was a key reason for the downgrade. Canadian Pacific operates rail lines on both sides of the US-Canada border, positioning it at the forefront of any potential trade disruptions caused by the new tariffs.