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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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Ontario Shifts Gears: Defence Manufacturing Gains Traction Amid Auto Sector Concerns

As Ontario’s automotive industry grapples with mounting global competition and the transition to electric vehicles, the province is eyeing the European defence market as a new frontier for economic resilience. With manufacturing hubs like Oshawa and Windsor seeking diversification, policymakers and industry leaders are steering resources toward producing military-grade technology, vehicles, and components suited for NATO partners.

This strategic pivot isn’t just about replacing lost auto-sector jobs—it reflects a broader move to position Ontario as a key player in allied defence supply chains. Recent partnerships between Canadian firms and European defence contractors underscore a growing appetite for Canadian innovation in aerospace, cyber-defence, and advanced machinery.

Although challenges remain—such as navigating export regulations and retraining workers—the shift represents a bold reimagining of Ontario’s industrial future. As one official put it, “We’ve built reliable cars for over a century. Now we’re building security.”


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