The TSX opened sharply lower Wednesday, mirroring losses across global markets as investors pulled back from tech-heavy equities. The slide comes after U.S. indexes posted their biggest single-day drop in weeks, with traders questioning elevated AI stock valuations and shifting toward safer assets.
Commodities were mixed, with gold edging higher after two days of declines and copper ticking up slightly, while oil prices slipped amid continued concerns over global demand.
In corporate news, Air Canada reported a third-quarter profit decline as recent labour disruptions weighed on results, while Maple Leaf Foods posted stronger-than-expected sales growth and improved profitability.
Market numbers
TSX: Down (1.64%), 29,777.82
TSXV: Down (0.32%), 891.43
DOW: Down (0.53%), 47,085.25
NASDAQ: Down (2.07%), 25,435.70
FTSE: Up (0.13%), 9,716.40
In the headlines
- Maple Leaf Foods reports $43.1M Q3 profit – Maple Leaf Foods (TSX:MFI) posted a $43.1 million third-quarter profit, up from $13.7 million last year, as sales rose 8%. The company credited strong consumer demand for branded meat and plant-based products and continued cost optimization across its operations.
- Air Canada profit dips amid labour stoppage – Air Canada (TSX:AC) reported a $264 million profit for the third quarter, down from $1.25 billion last year, as it grappled with flight cancellations and higher labour costs. The airline said it remains focused on restoring operations and managing capacity through the winter travel season.
Currencies
USD: Down (0.24%), $0.7070
GBP: Down (0.28%), $0.5427
EUR: Down (0.18%), $0.6163
JPY: Down (0.01%), ¥108.92
Bitcoin: Down (2.80%), US$102,776.00
(Conversion to C$1)
Commodities
Copper: Up (0.43%), 4.9968
Gold: Up (1.18%), 3,978.75
WTI: Down (0.51%), 60.32
Natural Gas: Up (0.23%), 4.32
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