Business · Markets · 6 hrs ago
Canada’s main stock index falls 1% as tech and mining shares slide
Canada’s main stock index fell 1% on Thursday, retreating from a four-week high.
The decline followed lower gold and copper prices, which weighed on mining shares, and renewed concern about how much companies are spending on artificial intelligence.
Celestica shares dropped 12%, contributing to a 1.6% fall in the technology sector.
The materials sector, which includes metal miners, fell 5.6% to its lowest close since August 4.
Gains in real estate and industrial shares, including Waste Connections and Mullen Group, offered some support but did not prevent the overall decline.
Investors are watching oil prices and inflation concerns ahead of a Federal Reserve policy meeting next week.
Canada’s S&P/TSX Composite Index fell 1% on Thursday, ending at 35,973.45.
The decline pulled the index back from a four-week closing high reached the previous day.
Lower gold and copper prices weighed on mining shares, while technology stocks fell amid renewed concerns about AI spending.
The materials sector dropped 5.6%, while technology declined 1.6%.
Real estate and industrial shares rose, with Waste Connections and Mullen Group among the gainers.
- Who
- Canada’s S&P/TSX Composite Index and the companies whose shares trade on it.
- What
- The index fell 351.54 points, or 1%, to 35,973.45.
- When
- Thursday, October 22, 2026.
- Where
- Canada.
- Why
- Falling gold and copper prices weighed on mining shares, and renewed concerns about AI spending pressured technology stocks.
This story does not have two clearly opposing sides.
The index closed at its highest level since September 22, after Canada announced a support package for sectors hit by US tariffs.
The index fell 1% as metal mining and technology shares declined.
- Index close
- 35,973.45
- Daily change
- Down 351.54 points, or 1%
- Materials sector
- Down 5.6%
- Technology sector
- Down 1.6%
- Celestica shares
- Down 12%
- Waste Connections shares
- Up 9.5%
What people are saying
The market is starting to get concerned about the spending. Celestica is very much linked to the AI trade because of the work that they do for some of these hyperscaler companies.