TSX Slips on Tech Rout and Middle East Tensions

2026-07-17 13:53 By Isabela Couto 1 min. read

The S&P/TSX Composite Index fell nearly 1% to trade below 35,500 on Friday amid a global selloff in semiconductor stocks and as the escalating US-Iran conflict kept oil prices elevated.

North American technology stocks plunged as investors pulled back from crowded semiconductor trades on renewed concerns over AI-related spending.

Shopify shed 1.5%, while Celestica extended losses of more than 6% after plunging 9.3% in the previous session.

Meanwhile, the US and Iran intensified attacks across the Gulf, with their collapsed truce disrupting oil flows through the Strait of Hormuz.

The conflict pushed oil prices higher, stoking inflation fears and weighing on financials and the broader market.

RBC, TD Bank, BMO, and Scotiabank lost about 1% each.

Gold prices also edged lower, with the precious metal heading for a weekly loss, putting additional pressure on mining stocks.

Agnico Eagle lost more than 1%, while Barrick and WPM shed nearly 2% each.



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TSX Slips on Tech Rout and Middle East Tensions
The S&P/TSX Composite Index fell nearly 1% to trade below 35,500 on Friday amid a global selloff in semiconductor stocks and as the escalating US-Iran conflict kept oil prices elevated. North American technology stocks plunged as investors pulled back from crowded semiconductor trades on renewed concerns over AI-related spending. Shopify shed 1.5%, while Celestica extended losses of more than 6% after plunging 9.3% in the previous session. Meanwhile, the US and Iran intensified attacks across the Gulf, with their collapsed truce disrupting oil flows through the Strait of Hormuz. The conflict pushed oil prices higher, stoking inflation fears and weighing on financials and the broader market. RBC, TD Bank, BMO, and Scotiabank lost about 1% each. Gold prices also edged lower, with the precious metal heading for a weekly loss, putting additional pressure on mining stocks. Agnico Eagle lost more than 1%, while Barrick and WPM shed nearly 2% each.
2026-07-17
TSX Futures Slip on Chip Selloff and Oil Spike
Futures tracking the S&P/TSX Composite Index edged lower on Friday amid a global selloff in semiconductor stocks and as the escalating US-Iran conflict kept oil prices elevated. North American tech stocks plunged as investors pulled back from crowded semiconductor trades on renewed concerns over AI-related spending. Meanwhile, the US and Iran intensified attacks across the Gulf, with their collapsed truce disrupting oil flows through the Strait of Hormuz. The conflict pushed oil prices higher, stoking inflation fears and weighing on financials and the broader market. Gold prices also edged lower, with the precious metal heading for a weekly loss, putting additional pressure on mining stocks.
2026-07-17
TSX Falls as Miners and Banks Weigh
The S&P/TSX Composite Index fell 0.2% to close at 35,340, weighed down by mining and banking stocks. Gold prices dropped as escalating tensions in the Middle East pushed oil prices higher, fueling concerns that inflation could keep interest rates elevated for longer. Agnico Eagle fell 3.6%, WPM lost 4%, and Barrick shed 3%. Financials also weakened, with RBC down 0.8%, TD Bank losing 0.7%, BMO slipping 0.5%, and Scotiabank retreating 0.7%. Energy shares outperformed on higher crude prices, with Tourmaline Oil gaining 1.5%. Elsewhere, TFI International jumped 7.3% after a Scotiabank rating upgrade. Investors also monitored USMCA developments after US Trade Representative Jamieson Greer said trade talks with Mexico were progressing, while negotiations with Canada remained stalled.
2026-07-16