TSX Tumbles as Miners Plunge

2026-02-05 21:07 By Felipe Alarcon 1 min. read

The S&P TSX Composite fell 1.8% to close at 31,995 as a sharp retreat in precious metals and renewed tech weakness dragged Canada’s resource heavy benchmark lower.

Gold and silver plunged, hitting miners across the board and leaving Barrick and Pan American Silver plunging over 8.5% and several silver names sharply lower even though Barrick beat Q4 estimates and announced management and asset sale plans that complicated near term sentiment.

Shopify (-2.8%) extended losses in growth and software names and Constellation Software edged lower despite reporting results but could not offset broad tech softness.

Financials were firmly lower, while energy names were mixed as softer crude benchmarks weighed on some producers even as pipeline operators posted modest gains.

Investors are parsing Wall Street tech earnings and Alphabet’s heavy AI spending outlook at the same time commodity swings amplify volatility in Toronto.



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