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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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Trump's Tariff Tango: The Strain on U.S.-Canada Relations

The relationship between the United States and Canada, historically marked by mutual respect and cooperation, has taken a sharp turn under President Donald Trump's administration. The latest chapter in this strained dynamic is Trump's imposition of sweeping 25% tariffs on Canadian goods, citing concerns over illegal immigration and drug trafficking. While these issues are more pronounced at the U.S.-Mexico border, Canada has found itself caught in the crossfire.

The tariffs, which also include a 10% levy on Canadian energy exports, have sparked a trade war between the two nations. Canada has responded with its own counter-tariffs, targeting $30 billion worth of U.S. goods, with plans for additional measures. Prime Minister Justin Trudeau has vowed to stand firm, emphasizing the need to protect Canadian jobs and the economy.

For consumers, the impact is immediate and tangible. Prices for everyday goods, from groceries to construction materials, are expected to rise as businesses pass on the increased costs. Economists warn that these tariffs could lead to job losses, economic instability, and even a potential recession.

The broader implications are equally concerning. The tariffs threaten to unravel decades of free trade agreements and could set a precedent for future economic conflicts. As both nations brace for the fallout, the question remains: can this long-standing partnership withstand the strain?

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