Equities in Canada’s largest centre stumbled Friday, as losses in resource and telecoms weighed most heavily.
The TSX faltered 337.63 points to kick off the week’s last session at 35,635.82. On the week so far, the pasting has been 540 points, or 1.5%.
The Canadian dollar edged up 0.12 cents to 71.53 cents U.S.
In Canada, markets are pricing in a quarter-point Bank of Canada rate hike next week, and nearly a percentage-point hike over the next 12 months.
Prime Minister Mark Carney said engineering firm AtkinsRealis is in the running to help build Turkey's third nuclear power plant. Atkins shares gave back $1.64, or 1.9%, to $84.85.
U.S. President Donald Trump said on Thursday that jet maker Bombardier will invest $270 million in the U.S., days after he dropped threats to ban the company from the country. Shares in Bombardier ---ditched 62 cents to $321.40.
On the economic scene, Statistics Canada reported retail sales increased 1.2% to $74.6 billion in August. Sales were up in all nine subsectors, led by increases at motor vehicle and parts dealers.
ON BAYSTREET
The TSX Venture Exchange sifted off 3.67 points to 818.29. The index has surrendered 26 points, on the week, or 3.12%.
All but one of the 12 subgroups were clobbered, with gold sliding 2.1%, materials, lower by 1.6%, and telecoms, off 1.5%.
Only energy saw the light of day, gaining 2.1%.
ON WALLSTREET
The Dow tumbled nearly 800 points on Friday as investors remained uneasy following a Big Tech selloff and U.S. oil prices topped $100 a barrel amid rising fears that the U.S.-Iran conflict would flare up again.
The 30-stock index dropped 759.4 points, or 1.4%, to 52,108.58.
The S&P 500 index fell 45.63 points to 7,617.80.
The tech-heavy NASDAQ lost 42.18 points to 25,966.68.
On the week, the S&P 500 is heading for a slim gain, up less than 0.1%, while the NASDAQ is down 0.5% in the period. The Dow is tracking for a 1.7% advance.
Big Tech shares like Microsoft and Meta were trading lower, while chip stocks were rebounding slightly, with Micron Technology and Advanced Micro Devices ticking up more than 1%.
CoreWeave, which has become the poster child for data center companies using aggressive amounts of borrowed money, dropped 10% on Thursday. Its shares slipped less than 1% on Friday.
On Thursday, many technology stocks pulled back as traders assessed the impact of outsized corporate borrowing and rising rates on artificial intelligence and other tech names.
Prices for the 10-year Treasury was slightly lower, raising yields to 4.99% from Thursday 4.97%. Treasury prices and yields move in opposite directions.
Oil prices gained $3.06 to $102.83 U.S. a barrel.
Gold prices slid $38.10 to $4,022.30 U.S. an ounce.
