Canada's main stock index fell on Wednesday, after hitting record highs for two straight sessions, as a pullback in precious metals pressured materials stocks and investors weighed the impact of higher Venezuelan oil supply on energy firms.
The TSX crumbled 200.42 points to pause for lunch Wednesday at 32,206.60.
The Canadian dollar dipped 0.07 cents to 72.31 cents U.S.
A rise in Venezuelan exports could hurt Canadian companies selling a similar heavy oil, but the country's Prime Minister Mark Carney said on Tuesday that Canadian crude is low-risk and will stay competitive even if Venezuelan supply rises.
ON BAYSTREET
The TSX Venture Exchange stepped back 4.68 points to 1,029.26.
All but three of the 12 TSX subgroups lost ground by noon, with energy collapsing 1.4%, materials and industrials each off 1.3%.
The three gainers were health-care, up 1.2%, consumer staples ahead 0.9%, and real-estate better by 0.8%.
ON WALLSTREET
The S&P 500 and Dow Jones Industrial Average notched fresh all-time intraday records on Wednesday, building on their strong starts to 2026, though the rally has lost some steam.
The 30-stock index dumped 100.77 points to 49,361.31.
The much-broader index poked ahead 16.08 points to 6,960.90.
The NASDAQ soared 161.24 points to 23,708.42.
Shares of oil refiners Valero Energy and Marathon Petroleum were among the winners of the day, gaining 4% and almost 1%, respectively, after sources told the media that oil sales from Venezuela will continue indefinitely and sanctions would be reduced.
In contrast, crude oil prices dropped on the heels of President Donald Trump saying that interim authorities in Venezuela will be turning over as much as 50 million barrels of oil to the U.S., spurring concerns over increasing oil supply.
Wednesday’s session also saw bank stocks give back some of their strong gains for early 2026. JPMorgan, Bank of America and Wells Fargo were key laggards, each falling more than 2%.
Prices for the 10-year Treasury sagged, pointing yields up to 4.14% from Tuesday’s 4.17%. Treasury prices and yields move in opposite directions.
Oil prices slid $1.08 to $56.05 U.S. a barrel.
Gold prices stumbled $25.60 to $4,470.50.
