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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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COP30 on the Brink: Fossil Fuels Divide the World

Demonstrators attend the Fridays for Future protest '#JustTransitionNow' next to the Brandenburg Gate during the United Nations Climate Change Conference (COP 30) which takes place in Belem, Brazil.

As COP30 in Belém, Brazil, reaches its dramatic conclusion, the summit has become a battleground over the future of fossil fuels. A draft deal released by Brazil dropped all references to phasing out oil, gas, and coal, igniting fierce opposition from dozens of countries who insist that any agreement must include a clear roadmap for transition.

The proposed final text, called Mutirão—a word rooted in indigenous traditions meaning “mutual aid”—has instead highlighted division rather than unity. Eighty-two countries, including members of the EU, have rejected the draft, arguing that without a fossil fuel phaseout, the deal fails to meet the ambition needed to keep global warming within the 1.5°C target.

COP30 President André Corrêa do Lago urged delegates to find common ground, warning that “this cannot be an agenda that divides us.” Yet the rift between oil-producing nations and those pushing for stronger climate commitments underscores the difficulty of forging consensus in a fractured world.

The summit has also been marked by drama beyond the negotiating table. A fire at the venue forced mass evacuations, adding to the sense of urgency and chaos as talks entered their final hours. Demonstrators outside the summit have amplified calls for a “just transition,” demanding that leaders prioritize people and planet over fossil fuel interests.

At stake is more than just another UN climate agreement. COP30 is a test of whether international cooperation can still deliver meaningful progress against climate change. If the summit ends without a deal, it risks undermining trust in the global process and delaying action at a time when scientists warn the window to act is rapidly closing.

The final hours of COP30 will determine whether the world leaves Belém with a united vision for a fossil-free future—or with yet another fractured compromise that falls short of the urgency the climate crisis demands.


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