Canada's main stock index fell on Monday, dragged down by financials and mining stocks, while investors assessed softer-than-expected domestic inflation data for September ahead of the Bank of Canada's interest rate decision next week.
The TSX caved 269.72 points to 35,906.83.
The Canadian dollar pushed higher 0.14 cents to 70.97 cents U.S.
Reliance Worldwide said on Monday that no rival bidder emerged during the "go shop process under Brookfield's proposed acquisition of the Australian firm. Brookfield shares lost 13 cents to $36.49.
Air Canada fell 68 cents, or 3.1%, to $21.31, after brokerage Jefferies cut the stock's rating to "underperform" from "hold"
On the economic scene, Statistics Canada reported its Consumer Price Index rose 3.1% year over year in September, following a 3.0% increase in August. On a seasonally-adjusted monthly basis, the CPI increased 0.4% in September.
ON BAYSTREET
The TSX Venture Exchange removed 0.52 points to 844.78.
All but two of the 12 subgroups were negative midday, weighed most utilities, sliding 1.6%, while telecoms lost 1.4%, and industrials were poorer 1.1%.
The lone gainers were information technology, better 0.4%, while health-care was ahead 0.3%.
ON WALLSTREET
The NASDAQ Composite rose on Monday as traders moved back into tech following last week’s artificial intelligence-related rout.
The Dow Jones Industrial index climbed 101.05 points to 52,103.46
The S&P 500 index moved higher 64.93 points to 7,724.37
The tech-heavy index sprang up 442.59 points, or 1.7%, to 26,582.62.
Intel advanced 5% after JPMorgan analysts upgraded their rating on the chipmaker. Neocloud mainstay CoreWeave gained 2% after receiving an upgrade at Goldman Sachs.
The stock plunged more than 25% last week — its biggest one-week drop since November 2025 — over debt concerns. Advanced Micro Devices progressed 3% and Micron Technology was up 4%.
The S&P 500 lost nearly 2% last week — its biggest weekly decline since late June.
The NASDAQ tumbled 4.5%, snapping a four-week winning streak. Information technology also shed more than 6% to post its worst weekly performance since April 2025.
It was the most net sold global sector last week, with hedge funds selling the largest percentage of tech on record, per Goldman Sachs.
Concerns around the health of the AI trade took center stage reports, that Anthropic’s third-quarter revenue totaled $16.8 billion. And while that’s up from $11.6 billion in the second quarter, it raised flags among investors about the pace of growth with the AI build-out.
Prices for the 10-year Treasury were lower, driving up yields to 5.14% from Friday’s 5.09%. Treasury prices and yields move in opposite directions.
Oil prices dipped 27 cents to $101.14 U.S. a barrel.
Gold prices subtracted $17.80 to $4,163.20 U.S. an ounce.
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