Markets were mixed today as the Nasdaq tried to find its footing after a 5.5% rout that delivered the biggest wipeout for U.S. stocks since Covid, while equity volatility jumped by the most since the April 2025 tariff turmoil.
The Nasdaq gained 1.79%, but the TSX dropped 2.03% and the TSX Venture Index fell 0.99%, while the Dow slipped 0.39% and the FTSE 100 lost 1.09%. A stronger-than-expected U.S. jobs report, with employers adding 165,000 jobs in October and unemployment dipping to 4.1%, did little to calm nerves.
Oil rose 2.26% to 90.60 and natural gas gained 1.39%, while copper added 0.68% and gold fell 1.32%. Bitcoin slipped 0.27% to just above C$106,000, and the Loonie fell against the greenback. At home, the federal budget unveiled new tax measures aimed at growing businesses in Canada, while the Bank of Canada and the government agreed to keep the 2% inflation target.
Market numbers
TSX: Down (-2.03%) 35,605.27
TSXV: Down (-0.99%) 806.32
DOW: Down (-0.39%) 51,040.4
NASDAQ: Up (+1.79%) 26,989.8
FTSE 100: Down (-1.09%) 10,575.67
In the headlines
- Tesla and SpaceX shed $456 billion as Musk loses nearly $80 billion in a day: Tesla (NASDAQ:TSLA), the electric vehicle and clean energy company, and SpaceX (NASDAQ:SPCX), the aerospace and satellite internet company, together lost $456 billion in market value in a single session. The slide cost CEO Elon Musk nearly $80 billion of his personal net worth in one day.
- Nvidia slides below $200 after 9% rout, losing nearly $1.4 trillion since October record: Nvidia (NASDAQ:NVDA), the dominant AI chipmaker, fell below the $200 mark after a 9% rout, with CEO Jensen Huang dropping out of the world’s top 10 richest people. The company has now lost nearly $1.4 trillion in market value since its October record.
Currencies
USD: Down (-0.65%) $0.7083
GBP: Up (+0.02%) $0.5300
EUR: Up (+0.01%) $0.63597
JPY: Down (-0.24%) ¥112.242
AUD: Up (+0.27%) $1.0316
Bitcoin (BTC/CAD): Down (-0.27%) 106,250.0
(Conversion to C$1)
Commodities
Copper: Up (+0.68%) 6.32920
Gold: Down (-1.32%) 4,035.25
WTI: Up (+2.26%) 90.60
Natural Gas: Up (+1.39%) 2.997
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