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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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Alberta Invokes Notwithstanding Clause to End Historic Teacher Strike

 

Alberta’s United Conservative government has taken the extraordinary step of invoking the notwithstanding clause of the Canadian Charter of Rights and Freedoms to end a province-wide teacher strike, forcing more than 51,000 educators back to work after three weeks of job action.

Premier Danielle Smith’s caucus pushed the legislation through the legislature in a marathon late-night session, curtailing debate and passing the bill in just over six hours. The government argued that the strike had moved beyond inconvenience and was causing serious harm to students’ education and social development. Education Minister Demetrios Nicolaides described the move as a “moral imperative” to restore classroom learning.

The decision marks the largest use of the notwithstanding clause in Alberta’s history and has ignited fierce backlash. The Alberta Teachers’ Association (ATA) condemned the bill as a “gross abuse of power” and vowed to pursue all legal avenues to challenge what it called an assault on collective bargaining rights. Union leaders warned that the precedent could undermine the rights of all workers across the province.

The clause, found in Section 33 of the Charter, allows governments to override certain constitutional rights for renewable five-year periods. While rarely used, it has become a flashpoint in Canadian politics whenever invoked, particularly in labour disputes.

The government’s move has also drawn the attention of other unions, with more than 350,000 workers in allied sectors signaling they may mount an “unprecedented response” to what they view as a dangerous erosion of democratic protections.

For now, Alberta students are expected to return to classrooms immediately, but the political and legal battles surrounding this decision are only beginning. The clash between the Smith government and organized labour could shape the province’s labour relations for years to come.


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