The S&P/TSX composite index closed down 274.53 points, or 0.75 per cent, at 36,137.19 on Thursday, Nov. 12, as a sharp drop in gold and weakness in base metals weighed on Canadian miners while Nvidia’s leadership turmoil hung over technology stocks, according to TMX Money.
The index opened at 36,199.86 and traded between a high of 36,367.41 and a low of 36,080.86, TMX Money data show. Yahoo Finance data showed the same closing level. It was the first decline in four sessions after the composite rose Nov. 9, Nov. 10 and Nov. 11. The index had closed up 241 points on Wednesday at 36,411.72.
Gold was the biggest drag. The December gold contract was down about US$122.70 at US$3,877.80 an ounce after the close, Yahoo Finance data showed, after The Canadian Press reported it down US$120.30 in late-morning trading. Agnico Eagle Mines Ltd. (TSX:AEM), one of the index’s 10 largest companies, fell 4.06 per cent to C$254.28. Barrick Mining Corp. (TSX:ABX) fell 3.07 per cent, Wheaton Precious Metals Corp. (TSX:WPM) fell 2.69 per cent and Kinross Gold Corp. (TSX:K) fell 3.37 per cent, according to Yahoo Finance.
Base metals producers also lost ground. The Canadian Press said losses in the base metals sector weighed on the index in late-morning trading. By the close, Teck Resources Ltd. (TSX:TECK.B) was down 3.84 per cent, First Quantum Minerals Ltd. (TSX:FM) was down 3.5 per cent and Cameco Corp. (TSX:CCO) was down 3.31 per cent, Yahoo Finance data showed.
Technology stocks faced more pressure from Nvidia. Shares of the chipmaker fell about 5 per cent in the afternoon after the company announced the sudden departure of chief executive Jensen Huang, The Associated Press reported. Nvidia named Colette Kress interim chief executive, and the shock was already weighing on Toronto at the open. Shopify Inc. (TSX:SHOP) fell 1.49 per cent to C$209.41, according to Yahoo Finance.
Some parts of the market held up. Canadian Pacific Kansas City Ltd. (TSX:CP) rose 0.86 per cent, and the big banks were nearly flat: Royal Bank of Canada (TSX:RY) and Toronto-Dominion Bank (TSX:TD) each slipped 0.21 per cent. Canadian Natural Resources Ltd. (TSX:CNQ) rose 0.5 per cent and Enbridge Inc. (TSX:ENB) rose 0.47 per cent as crude oil rose.
On Wall Street, the Dow Jones industrial average fell 189.39 points to 52,297.09, the S&P 500 fell 26.98 points to 7,592.40, and the Nasdaq composite fell 100.10 points to 25,366.09, according to Yahoo Finance. The U.S. markets had rebounded on Wednesday as artificial intelligence stocks recovered, The Associated Press reported. The Canadian dollar traded at about 70.1 cents US, compared with 70.52 cents US on Tuesday, The Canadian Press reported in its late-morning update.
| Market close at a glance (Nov. 12, 2026) | Level | Change |
|---|---|---|
| S&P/TSX composite | 36,137.19 | -274.53 (-0.75%) |
| Dow Jones industrial average | 52,297.09 | -189.39 (-0.36%) |
| S&P 500 | 7,592.40 | -26.98 (-0.35%) |
| Nasdaq composite | 25,366.09 | -100.10 (-0.39%) |
| Crude oil (December, US$/barrel) | 88.86 | +2.33 (+2.7%) |
| Gold (December, US$/ounce) | 3,877.80 | -122.70 (-3.07%) |
| Canadian dollar (US cents) | about 70.1 | down from 70.52 on Tuesday |
Earlier on Thursday, our pre-market preview set out the day’s earnings and economic releases.
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This article is for information only and is not investment advice. Speak to a licensed adviser before making investment decisions.
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