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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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Carney Launches $5B Relief Plan, Pauses EV Mandate Amid Tariff Pressures

 





                                    Prime Minister Mark Carney, speaking in Mississauga, Ont., on Friday.  




Prime Minister Mark Carney has announced a sweeping economic relief package aimed at supporting Canadian industries hardest hit by U.S. and Chinese tariffs. Speaking at an aerospace facility in the Toronto area, Carney unveiled a $5‑billion Strategic Response Fund to help businesses retool, develop new products, and access new markets. The plan also introduces a “Buy Canadian” procurement policy, prioritizing domestic suppliers in federal contracts.

The measures include extended employment insurance benefits, a reskilling program for up to 50,000 workers, and expanded loan facilities for small, medium, and large enterprises affected by trade disruptions. Key sectors such as steel, aluminum, autos, and agriculture are expected to benefit.

In a significant policy shift, the government will delay the 2026 zero‑emission vehicle sales mandate by one year, launching a 60‑day review to address industry concerns over costs and feasibility. Carney framed the moves as part of a broader strategy to make Canada’s economy more resilient in an era of global trade uncertainty.


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