Canadians Pour $90 Billion into U.S. Stocks Amid Political Tensions, Favoring Tech Giants Over Domestic Equities

Despite escalating political tensions between Canada and the U.S., Canadian investors have aggressively purchased $89.7 billion worth of American equities in 2025, according to National Bank of Canada Financial Market data. This marks the highest inflow since the 1990s tech boom, defying expectations of a 'Buy Canadian' movement.

The surge is driven by mega-cap tech stocks like Nvidia (NVDA), Microsoft (MSFT), and Meta Platforms (META), as investors chase the AI narrative. Ironically, this trend persists even as Canada's domestic market outperforms—highlighting a disconnect between political sentiment and capital allocation.

President Trump's trade policies have sparked widespread backlash, with Canadians boycotting U.S. autos and wine. Yet capital flows tell a different story: portfolios are being weighted toward innovation rather than nationalism.