Equities in Canada’s largest centre let go Wednesday of much their strength acquired early in the week, as energy and industrials pulled the main index downward.
The TSX crumbled 271.53 points to close Wednesday at 32,135.49.
The Canadian dollar dipped 0.21 cents to 72.31 cents U.S.
Industrials weighed heaviest on the index, with Brookfield Business Partners tumbling $3.30, or 6.6%, to $46.94, while Atkins Realis skidded $3.61, or 3.8%, to $91.69.
In energy issues, Arc Resources declined $1.19, or 4.9%, to $23.28, while Canadian Natural Resources fell $1.22, or 2.8%, to $42.38.
In the financial sector, Brookfield Asset Management let go of $2.59, or 3.4%, to $73.87, while TMX Group skidded $1.69, or 3.2%, to $50.62.
Health-care issues did what they could to even things out, as Bausch Health Companies gained 38 cents, or 3.6%, to $10.95, while Curaleaf picked up six cents, or 1.8%, to $3.93.
In real-estate, H&R REIT units captured 25 cents, or 2.4%, to $10.81, while Primaris REIT improved 37 cents, or 2.3%, to $16.53.
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 regained 2.24 points to 1,036.18.
All but two of the 12 TSX subgroups lost ground, with industrials sliding 2.4%, energy collapsing 1.5%, and financials off 0.7%.
The two gainers were health-care, up 1.2% and real-estate, better by 0.1%.
ON WALLSTREET
The S&P 500 and Dow Jones Industrial Average pulled back from record levels on Wednesday as areas of the market that were hot to start the year lost steam.
The 30-stock index shed 466 points to 48,996.08.
The much-broader index sagged 23.89 points to 6,920.93.
The NASDAQ gained, however, 37.1 points to 23,584.28.
Financials and energy — two of the sectors that started off 2026 strong — saw losses during the trading day, with both declining more than 1%. Bank stocks that ended the session lower included JPMorgan, Bank of America and Wells Fargo. Meanwhile, Exxon Mobil, Chevron and ConocoPhillips were key laggards in the energy space.
Beyond the energy stragglers, 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.
Additionally, Trump said the U.S. is going to ban large institutional investors from buying more single-family homes, a move that weighed on private equity stocks, such as Blackstone and Apollo Global Management.
On the flip side, shares of oil refiners Valero Energy and Marathon Petroleum were was among the winners of the day, gaining 3% and more than 1%, respectively, after sources told the media that oil sales from Venezuela will continue indefinitely and sanctions would be reduced.
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 83 cents to $56.30 U.S. a barrel.
Gold prices stumbled $29.00 to $4,467.10.
