TSX closes down 185 points as energy only sector up

Canada’s main stock index closed down 185.27 points, or 0.52 per cent, at 35,788.18 on Friday, Oct. 23, 2026, as losses in financials, consumer staples and materials outweighed a 2.1 per cent gain in energy. The S&P/TSX composite index finished at its lowest level since Oct. 14 and was down 1.1 per cent for the week, Reuters reported.

TMX Money, which published the final figure at 4 p.m. ET, and Reuters both put the close at 35,788.18. The index opened at 35,857.64, reached a high of 35,878.63 and a low of 35,491.62, according to Google Finance. It had closed at 35,973.45 on Thursday, as our market close report showed, and our morning report captured a steeper drop of about 400 points before the index recovered part of the loss.

Sources: TMX Money and Reuters for the TSX composite; Google Finance for the Dow, S&P 500, Nasdaq and the loonie; Reuters for oil.

Energy was the only one of the 10 major sectors to end higher, adding 2.1 per cent, Reuters reported. U.S. crude futures settled 3.8 per cent higher at US$103.27 a barrel after Houthi attacks in Saudi Arabia stoked concern about further disruption to supply from the Middle East. Our report on oil prices and the Strait of Hormuz has more.

Financials, the heaviest sector in the index, fell 0.9 per cent, and Manulife Financial Corp. (TSX:MFC) dropped 2.9 per cent, Reuters said. Consumer staples lost 2.2 per cent as Loblaw Companies Ltd. (TSX:L) fell 2.8 per cent. Materials, which include the metal miners, shed 1.2 per cent as gold touched a three-month low ahead of a U.S. Federal Reserve interest rate decision next week.

Rogers Communications Inc. (TSX:RCI.B) reported third-quarter profit above estimates, Reuters said, but its shares were still down 2.3 per cent. Our story on the results has the details.

Mullen Group Ltd. (TSX:MTL) was the session’s steepest decliner on the index, falling 10.9 per cent, or $3.52, to $28.76 on volume of about 787,000 shares, TMX Money data showed. The trucking and logistics company had jumped on Thursday after it reported a record third-quarter profit, and its shares closed Thursday at $32.28.

“It’s been a risk-off week,” Greg Taylor, chief investment officer at PenderFund Capital Management, told Reuters. He said the TSX has held up better than some other indexes, probably because of energy, but is showing some weakness in banks and other parts of the market.

On Wall Street, the Dow fell 1.23 per cent while the S&P 500 slid 0.52 per cent, according to Google Finance. Reuters said recent turbulence in artificial intelligence stocks has kept risk appetite in check globally.

The Bank of Canada announces its interest rate decision on Oct. 28, the same day as the Fed’s. A majority of economists polled by Reuters expect the central bank to raise its benchmark rate by a quarter of a percentage point to 2.50 per cent. Reuters also reported that U.S. President Donald Trump signed an order removing 50 per cent tariffs on some Canadian agricultural and forestry products. Our guide to TSX holidays in 2026 lists the remaining market closures this year.

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This article is for information only and is not investment advice. Speak to a licensed adviser before making investment decisions.