TSX closes down 16 points as basic materials weigh

Canada’s main stock index edged lower on Thursday, with the S&P/TSX composite index closing down 16.06 points, or 0.04 per cent, at 36,249.03 as losses in the basic materials sector outweighed gains elsewhere, according to TMX Money and The Canadian Press. U.S. markets also lost ground.

Wall Street’s losses were driven by Alphabet Inc., the parent of Google, whose Class A shares fell 12.6 per cent, their worst day since they began trading more than 20 years ago, The Associated Press reported. The company reported weaker summer growth than analysts expected, and said late Wednesday that it burned through more cash in the quarter after spending more than US$51 billion on property and equipment.

The Nasdaq composite fell 365.13 points, or 1.4 per cent, to 26,184.72. The S&P 500 dropped 23.59 points to 7,720.39 for its first loss in four days, and the Dow Jones industrial average lost 132.54 points to 52,342.56. The AP said four of every five stocks in the S&P 500 rose, and the index would have finished higher if not for Alphabet.

The Canadian dollar traded for 71.51 cents US, compared with 71.25 cents US on Wednesday, The Canadian Press reported. The December crude oil contract fell 78 cents US to US$102.00 a barrel, and the December gold contract dropped US$20.20 to US$4,031.40 an ounce.

The TSX had closed up 94 points on Wednesday after the Bank of Canada’s rate hike, as we reported in our Oct. 28 market close story. On Tuesday it gained 227 points, led by gold stocks and Celestica.

Figures are as of the 4 p.m. ET close on Oct. 29, 2026, from TMX Money, The Canadian Press and The Associated Press.

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