Markets are under pressure as technology and AI stocks continue to sell off, dragging major North American indices lower. The TSX is down more than half a percent and the TSX Venture Index is leading losses among Canadian equities. In the U.S., the Nasdaq is sharply lower, falling more than 1.6% as semiconductor shares remain under heavy pressure, while the Dow is only marginally lower. European markets are bucking the trend, posting modest gains.
The macro backdrop remains dominated by geopolitics. Oil prices are climbing as renewed U.S.–Iran hostilities and concerns about Red Sea shipping routes fuel supply fears. Gold is attempting to recover after slipping below the $4,000 level earlier in the week, while copper is retreating on concerns around global growth and a broader risk-off trade. Bitcoin is also under pressure as investors continue moving away from speculative assets.
Market numbers
TSX: Down (‑0.58%) 35,136.26
TSXV: Down (‑1.58%) 840.87
DOW: Down (‑0.06%) 52,470.0
NASDAQ: Down (‑1.65%) 28,467.7
FTSE 100: Up (+0.20%) 10,581.75
In the headlines
- Netflix falls after revenue miss and weaker engagement outlook: Netflix (TSX:NFLX) shares dropped roughly 9% after narrowly missing revenue expectations and reducing its engagement outlook. Investors focused on slowing user activity despite otherwise solid operational results.
- SpaceX slips below IPO price after launch delay: SpaceX (NDAQ:SPCX) fell to a new all-time low and briefly traded below its $135 IPO price after a scheduled Starship launch was scrubbed. The decline extends the company’s dramatic pullback from post-IPO highs.
- Aecon consortium lands major Winnipeg infrastructure contract: Aecon (TSX:ARE) and its partners secured an $815 million contract to upgrade Winnipeg’s sewage treatment infrastructure, adding to a growing pipeline of major public infrastructure projects in Canada.
Currencies
USD: Up (+0.21%) $0.7132
GBP: Up (+0.42%) $0.5302
EUR: Up (+0.28%) $0.62413
JPY: Up (+0.20%) ¥115.874
AUD: Up (+0.50%) $1.0226
Bitcoin (BTC/CAD): Down (‑1.70%) 88,144.2
(Conversion to C$1)
Commodities
Copper: Down (‑0.74%) 6.26402
Gold: Up (+0.43%) 3,993.50
WTI: Up (+2.80%) 79.60
Natural Gas: Up (+1.40%) 2.902
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