Equities in this country followed their American cousins down the ladder Tuesday, as rising bond yields played their part in lowering stock prices, particularly for resource and tech stocks
The TSX stumbled 444.75 points, or 1.2%, to 35,825.73.
The Canadian dollar faded 0.23 cents to 71.96 cents.
Miners were slapped, particularly, Barrick Mining lost $2.27, or 3.7%, to $69.89, NovaGold Resources was down 78 cents, or 6.5%, to $11.14, while Equinox Gold shed 98 cents, or 5.5%, to $16.92.
Trekor dropped 81 cents, or 6.5%, to $11.75, while Skeena Resources declined $2.97, or 6.6%, to $42.22.
In the tech sector, Enghouse slid 77 cents, or 4.4%, to $16.58, while Shopify dumped $9.31, or 4.6%, to $194.06.
Energy stocks tried to restore balance, Canadian Natural Resources jumped $2.65, or 3.8%, to $72.11, while Athabasca Oil acquired 42 cents, or 4%, to $11.05.
Lastly, consumer staples moved higher, led by Loblaw Companies, up $1.36, or 2.2%, to $62.00, while Alimentation Couche-Tard picked up 96 cents, or 1.2%, to $84.43.
Economically speaking, Manufacturing PMI in Canada decreased to 53 points in August from 53.50 points in July 2026.
Manufacturing PMI in Canada averaged 52.02 points from 2011 until 2026, reaching an all time high of 58.90 points in March 2022 and a record low of 33 points in April 2020.
ON BAYSTREET
The TSX Venture Exchange plunged 25.85 points, or 2.6%, to 956.66.
All but two of the 12 TSX subgroups tailed off, weighed most by gold and materials, sliding 3.1% each, and information technology, off 2.8%.
The two gainers were energy, up 2.9%, and consumer staples, ahead 1.1%.
ON WALLSTREET
Stocks fell on Tuesday, the first day of September, as inflation worries and elevated oil prices lifted bond yields in the U.S. and abroad, raising concern about whether the Federal Reserve will tighten monetary policy later this month.
The Dow Jones Industrials thundered lower 419.02 points to close Tuesday at 52,766.88.
The S&P 500 dropped 54.67 points to 7,631.47.
The NASDAQ Composite lost 271.12 points, or 1%, to 26,099.74.
The broader market was bogged down by declines in tech stocks. Nvidia, Advanced Micro Devices and Micron Technology were all down around 2%. Microsoft lost more than 1%, as did Google-parent Alphabet.
Global bond yields continued their march higher. The U.S. 10-year Treasury note yield scaled to levels not seen since January 2025. Japan’s 10-year yield reached its highest level since August 1996, while Germany’s benchmark yield rose to a 2011 high.
The moves come as traders weighed tensions in the Middle East following a resumption of military action between the U.S. and Iran. On Monday, a tanker passing through the Strait of Hormuz was hit by three unknown projectiles.
Additionally, President Donald Trump threatened to respond to Iran’s latest attacks on U.S. military bases in the region, telling Fox News Monday that “we are going to hit them hard.”
Prices for the 10-year Treasury were down, raising yields to 4.79% from Monday’s 4.74%. Treasury prices and yields move in opposite directions.
Oil prices popped $5.10 to $90.86 U.S. a barrel.
Gold prices faded $109.80 to $4,371.80 U.S. an ounce.
