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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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Trade Tensions Surge as China Hits Back with 84% Tariffs on U.S. Goods

In a dramatic escalation of the ongoing trade war, China has announced an 84% tariff on U.S. goods, effective April 10. This move comes in response to the U.S. imposing a sweeping 104% tariff on Chinese exports. The tit-for-tat measures have sent shockwaves through global markets, with analysts warning of potential economic fallout for both nations.

China's Ministry of Finance criticized the U.S. tariffs as a "mistake on top of a mistake," vowing to defend its economic interests. Meanwhile, U.S. officials expressed regret over China's retaliatory actions but maintained that the tariffs were necessary to address trade imbalances.

The escalating tariffs are expected to disrupt global trade flows, with industries on both sides bracing for impact. Economists predict that the prolonged trade war could dampen economic growth and strain international relations further.

The world watches as the two largest economies continue their high-stakes standoff, with no resolution in sight.

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