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Markets Update — Friday, June 26, 2026: Global Tech Sell-Off Rattles Markets as TSX Holds Firm

  Friday, June 26, 2026 — Reporting on confirmed June 25 closing data. Asian and European figures reflect Friday session activity. 🇨🇦 Canada — TSX The S&P/TSX Composite Index closed Thursday at 34,850 , up 0.3% on the day — a relatively resilient showing while Wall Street struggled with a tech-driven selloff. Gains in the financial and mining sectors carried the index. The big Canadian banks were a bright spot: TD Bank added 0.9%, Royal Bank gained 0.4%, and BMO rose 0.9%. On the mining side, Agnico Eagle gained 1.7% as gold prices held near the $4,000 level. Technology names were the drag. Shopify fell 2.6%, Constellation Software lost 3.6%, and Celestica shed 0.7%, tracking the broader global selloff in tech stocks. Still, with Canadian tech making up a far smaller portion of the TSX than it does on U.S. indices, the damage was contained. Investors also parsed Thursday's Bank of Canada Summary of Deliberations, which confirmed policymakers are keeping monetary policy flexi...
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Wall Street’s Momentum Cools After Its Latest Record-Setting Week

 

Wall Street, fresh from its recent record highs, has taken a step back as the new trading week begins. The S&P 500 dipped by 15.99 points, representing a 0.3% decline, settling at 5,218.19 in a subdued day of trading. Meanwhile, the Dow Jones Industrial Average experienced a 162.26-point drop (equivalent to 0.4%) to reach 39,313.64. The Nasdaq composite also retreated, losing 44.35 points (or 0.3%) to close at 16,384.47.

This cooling momentum comes after a remarkable run for Wall Street, which had been scaling new heights. Investors are closely monitoring the Federal Reserve for any signals regarding potential interest rate cuts. The recent surge in the U.S. dollar against the Japanese yen has also raised concerns, prompting speculation about market intervention. The dollar’s ascent to nearly 152 yen—a significant jump from slightly above 130 yen a year ago—has drawn attention. Meanwhile, the euro stands at $1.0818, up from $1.0810.

In Asia, shares exhibited mixed performance. Japan’s Nikkei 225 declined by 1.2%, reaching 40,414.12, as investors booked profits following the index’s recent record-breaking highs. Hong Kong’s Hang Seng edged up by 0.2% to 16,535.89, while China’s Shanghai Composite gained 0.3%, closing at 3,056.52. The Chinese yuan (renminbi) weakened to a four-month low of 7.2282 against the U.S. dollar. Australia’s S&P/ASX 200 bucked the trend, rising by 0.5% to 7,811.90. South Korea’s Kospi experienced a slight decline, losing 0.2% to settle at 2,743.04.

As the week unfolds, investors remain watchful for further cues from the Federal Reserve and potential market developments. Wall Street’s recent retreat serves as a reminder that even record-setting rallies can encounter moments of moderation.

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