TSX Slids To 1-month Low; Tech Stocks Under Pressure Again

RTTNews | 312 days ago

(RTTNews) - The Canadian market is down firmly in negative territory a little before noon on Friday after strong jobs data raised the possibility of the Canadian central bank leaving interest rates unchanged at its next monetary policy meeting.

Concerns about high valuations of AI-related stocks, and uncertainty about growth due to the steep U.S. tariffs on most of the exports from Canada are also weighing on sentiment.

Data from Statistics Canada showed the unemployment rate in Canada fell to 6.9% in October from the four-year high of 7.1% in the previous month.

The economy added 66,600 jobs in October following a 60,400 increase in September.

The benchmark S&P/TSX Composite Index, which drifted down to 29,538.94 was down 303.97 points or 1.02% at 29,564.62 a little before noon.

Technology stocks are reeling under pressure. The Information Technology Capped Index is down 4.7%. Celestica Inc. is down more than 10%. Lightspeed Commerce and Bitfarms are plunging 7% and 6%, respectively.

Docebo Inc., Shopify, Open Text Corporation, Computer Modelling Group, Kinaxis and Blackberry are down 3 to 6%.

Healthcare stocks Chartwell Retirement Residences, Bausch Health Companies and Sienna Senior Living are down 3%, 1.5% and 1%, respectively.

Real estate stock Altus Group is down more than 16% after the company's third-quarter results fell short of expectations.

In the financials sector, Goeasy is down 3.6% and Brookfield Corporation is down 2.1%. Fairfax Financial Holdings, EQB Inc., Sun Life Financial, Brookfield Asset Management, Manulife Financial, Toronto-Dominion Bank and Royal Bank of Canada are down 1 to 2%.

Emera Inc. is gaining 1.1% after reporting net earnings of C$228 million for the third quarter of current financial year, up from C$4 million a year ago.

Ensign Energy Services Inc. is down 1.2% after the company reported funds flow from operations of C$88.221 million, or C$0.47 per share in the three months to September 2025, less than C$116.914 million, or $0.63 per share, in the same period last year.

Onex Corp is down nearly 1%. The company reported third-quarter net earnings of $39 million, or $0.57 a share, compared to $127 million, or $1.68 a share, last year.

Brookfield Asset Management Ltd is down by about 1% despite reporting higher quarterly earnings. The company reported third-quarter earnings of $724 million or $0.44 per share, compared to $544 million or $0.34 per share in the year-ago quarter.

European Shares Set For Firm Open Ahead Of Fed Verdict

European stocks are seen opening a tad higher on Wednesday ahead of the U.S. Federal Reserve's interest-rate decision later in the day, with markets pricing in a 92.4 percent chance of a 25-bps rate hike in response to a recent hot inflation report.

RTTNews | 1h 5min ago

Indian Shares Modestly Higher In Cautious Trade

Indian shares were modestly higher on Wednesday after falling sharply in the previous session on concerns over rising oil and U.S. bond yields amid escalating Middle East tensions.

RTTNews | 1h 59min ago

Australian Market Slightly Trims Early Gains In Mid-market

The Australian stock market is slightly trimming its early gains in mid-market moves on Wednesday, reversing some of the losses in the previous session, with the benchmark S&P/ASX 200 moving well above the 8,650 level, despite the broadly negative cues from Wall Street overnight, with gains in energy and financial stocks partially offset by weakness in technology stocks.

RTTNews | 3h 14min ago

Asian Markets Trade Mostly Higher

Asian stock markets are mostly higher on Wednesday, despite the broadly negative cues from Wall Street overnight, as traders are cautious and seemed reluctant to make more significant moves ahead of the US Fed's monetary policy decision later in the day. Some traders are looking to pick stocks at a bargain following the recent slump in the markets. Asian markets closed mostly lower on Tuesday.

RTTNews | 3h 30min ago

Indian Shares Seen Flat To Higher At Open

Indian shares may see a fragile, tentative recovery at the open on Wednesday following the previous session's sell-off.

RTTNews | 4h 0min ago

Continued Consolidation Called For Thai Stock Market

The Thai stock market has moved lower in five straight sessions, retreating more than 40 points or 2.7 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,580-point plateau and it's expected to spin its wheels again on Wednesday.

RTTNews | 4h 38min ago

Lower Open Expected For Indonesia Bourse

The Indonesia stock market has finished lower in five straight sessions, sinking more than 225 points or 3.4 percent along the way. The Jakarta Composite Index now sits just above the 6,460-point plateau and it's looking at another soft start again on Wednesday.

RTTNews | 5h 8min ago

Japanese Market Modestly Lower

The Japanese stock market is trading modestly lower on Wednesday, extending the losses in the previous three sessions, following the broadly negative cues from Wall Street overnight. The Nikkei 225 is falling to near the 63,350 level, with weakness index heavyweights partially offset by gains in automakers and financial stocks.

RTTNews | 5h 9min ago

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