2026.10.1420:25:47UTC+00TSX Falls as Banks and Miners Slide

The S&P/TSX Composite Index slipped 1.1% to close at 35,584 on Wednesday, dragged lower by weakness in the banking and mining sectors. Crude prices extended their advance, heightening concerns about energy-driven inflation, while hotter-than-expected U.S. CPI data weighed on lenders amid ongoing uncertainty surrounding the Federal Reserve’s policy path.

Financials retreated, with major banks under pressure: BMO and National Bank each declined 0.9%. The mining sector also extended its slide as gold and silver prices continued to retreat, with Agnico Eagle down 4.6%, Barrick off 4%, and WPM losing 4.8%.

Technology shares came under notable selling pressure. Celestica tumbled 9.2% as U.S. chipmakers recorded steep losses, while Shopify fell 2.2%.

By contrast, energy producers largely advanced as oil resumed its upward trend, with Suncor up 1% and Imperial Oil gaining 0.6%. Retail names also strengthened, with ATD climbing 2.9% and Loblaw adding 2.8%.