2026.05.1520:19:27UTC+00TSX Falls as Bond Selloff Hits Mining Stocks

The S&P/TSX Composite Index declined 1.3% to close at 33,833 on Friday, dragged down by weakness in the mining sector and a global bond market selloff. Bond yields worldwide jumped as mounting evidence of economic strain from the Iran conflict and rising oil prices heightened fears of faster interest rate hikes by major central banks and weaker global growth. Canada’s 10-year government bond yield rose to its highest level in roughly two years.

Financials also traded lower, with Brookfield slipping 4%. Mining stocks led the declines as higher US Treasury yields and a stronger US dollar pressured gold prices and dampened investor appetite for precious-metals producers. Agnico Eagle dropped 6.2%, Barrick fell 5.8%, and Wheaton Precious Metals lost 6.1%.

In contrast, energy shares advanced as oil prices climbed following comments from Donald Trump and Iran’s foreign minister that further dimmed hopes for an agreement to halt attacks and ship seizures around the Strait of Hormuz. Canadian Natural gained 1.2%, while Suncor rose 2.5%.