TSX Tumbles on Thursday

2026-03-19 20:03 By Felipe Alarcon 1 min. read

The S&P/TSX Composite Index fell 1.4% to close at 31,855 on Thursday as a sharp retreat in precious metals and broader market volatility weighed on Canadian equities.

Materials stocks were the primary laggards following a drop in gold prices with Agnico Eagle Mines falling 5.7%, Barrick Gold plunging 5.4%, and Wheaton Precious Metals tumbling 5.9%.

Financial heavyweights also faced downward pressure as Royal Bank of Canada and the Bank of Nova Scotia fell over 1.2% despite some recovery from session lows in the broader banking sector.

Energy producers remained a resilient pocket of the market as Canadian Natural Resources climbed 3% and Cenovus Energy jumped 4.2% amid ongoing supply concerns linked to the Middle East conflict.

These gains were insufficient to fully counter the losses in resource and railway sectors as Canadian Pacific and Canadian National both fell over 1.1% while investors monitored diplomatic efforts to reopen the Strait of Hormuz.



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TSX Tumbles on Thursday
The S&P/TSX Composite Index fell 1.4% to close at 31,855 on Thursday as a sharp retreat in precious metals and broader market volatility weighed on Canadian equities. Materials stocks were the primary laggards following a drop in gold prices with Agnico Eagle Mines falling 5.7%, Barrick Gold plunging 5.4%, and Wheaton Precious Metals tumbling 5.9%. Financial heavyweights also faced downward pressure as Royal Bank of Canada and the Bank of Nova Scotia fell over 1.2% despite some recovery from session lows in the broader banking sector. Energy producers remained a resilient pocket of the market as Canadian Natural Resources climbed 3% and Cenovus Energy jumped 4.2% amid ongoing supply concerns linked to the Middle East conflict. These gains were insufficient to fully counter the losses in resource and railway sectors as Canadian Pacific and Canadian National both fell over 1.1% while investors monitored diplomatic efforts to reopen the Strait of Hormuz.
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