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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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China's Defiance: A Trade War Escalates


China has vowed to "fight to the end" in response to former President Donald Trump's latest tariff threats, marking a significant escalation in the ongoing trade war between the world's two largest economies. Trump's proposed additional 50% tariff on Chinese imports has been met with strong resistance from Beijing, which has labeled the move as "unilateral bullying" and a "mistake on top of a mistake".

The Chinese Ministry of Commerce has emphasized its commitment to safeguarding the nation's sovereignty and economic interests, hinting at further countermeasures. Meanwhile, the U.S. tariffs on Chinese goods could reach a staggering 104% if implemented, raising concerns about global economic stability.

As tensions rise, stock markets worldwide have shown increased volatility, reflecting fears of a prolonged trade war. Both nations appear steadfast in their positions, with China signaling its readiness to retaliate and Trump warning of the termination of all talks with Beijing. The outcome of this confrontation remains uncertain, but its implications for international trade and economic growth are profound.

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