Canada's main stock index opened sharply lower on Friday, as investors were spooked by a global bond market selloff sparked by concerns about high inflation due to the Middle East conflict.
The TSX Composite Index jettisoned 444.80 points, or 1.3%, to open the week’s last session at 33,823.47. On the week so far, the index has dropped 254 points, or 0.75%.
Markets in Canada will be closed Monday for Victoria Day.
The Canadian dollar slipped 0.18 cents to 72.69 cents U.S.
On the earnings front, airborne survey firm NXT Energy's first-quarter revenue and profit fall on contract phase shift. NXT shares poked up half a cent, or 1.2%, to 43 cents.
Energy technology firm Questerre's first-quarter adjusted funds flow jumps on Brazil cost cuts. Questerre shares ducked 3.5 cents, or 10.6%, to 30 cents.
On the economic calendar, Canada Mortgage and Housing Corporation reported the trend in housing starts increased by 3.2% in April with 256,777 units.
Statistics Canada said foreign investors purchased $4.6 billion of Canadian securities in March, the lowest monthly investment since the beginning of 2026. Meanwhile, Canadian investors acquired $3.9 billion of foreign securities, well below the monthly average investment of $16.7 billion during the previous four months.
Moreover, manufacturing sales in this country rose 3.0% in March, driven largely by increased sales of petroleum and coal products and transportation equipment. On a quarterly basis, total sales edged up 0.1% in the first quarter of 2026.
ON BAYSTREET
The TSX Venture Exchange erased 25.64 points, or 2.5%, to 989.43. On the week, the decrease was 7.85 points, or 0.8%.
All but two of the 12 TSX subgroups started Friday in minus country, as gold capsized 6.2%, materials weakened 5.6%, and health-care ailed 2%.
The two gainers proved to be energy, rumbling 1.1%, and telecoms, beaming 0.8%.
ON WALLSTREET
Stocks fell on Friday, bogged down by losses in technology stocks and a rise in U.S. Treasury yields, after a summit between President Donald Trump and Chinese President Xi Jinping ended and left traders worried about no major policy breakthroughs.
The 30-stock index dropped 345.45 points to begin Friday at 49,718.43.
The S&P 500 dumped 67.98 points to 7,433.26.
The NASDAQ sank 332.14 points, or 1.2%, to 26,303.08.
Investors took profits in tech after the group saw sharp gains recently. Notably, Intel retreated 6%, while Advanced Micro Devices and Micron Technology lost around 5% each. Nvidia dropped 4%, while Cerebras Systems — which surged 68% Thursday after it began trading on the NASDAQ — shed 4%.
Microsoft was an exception, however. The stock was nearly 2% higher after Bill Ackman said Friday that Pershing Square has built a position in the name.
Boeing shares extended their losses Friday, moving lower by 2% following a nearly 5% drop in the previous session, as investors were let down by Trump saying that China has agreed to buy 200 Boeing jets — just 50 more than the company had previously anticipated.
Prices for the 10-year Treasury weakened considerably, hiking yields to 4.57% from Thursday’s 4.48%. Treasury prices and yields move in opposite directions.
Oil prices gained $2.85 to $104.02 U.S. a barrel.
Gold prices slid $121.40 to $4,563.90 U.S. an ounce.
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