S&P/ TSX Composite: 2.03% Drop Sets Cautious Friday Tone
Published on 11/06/2026 at 13:29 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSFriday Session Starts Under Pressure
- The S&P/TSX Composite closed Thursday at 35,605.27 points, down 2.03% from Wednesday.
- Technology and base-metals shares led the decline as global artificial-intelligence stocks sold off.
- TSX futures were down 0.3% before Friday's open, according to Reuters.
- Canada's employment report was due later Friday and was expected to influence market sentiment.
The S&P/TSX Composite enters Friday's Toronto session after a sharp decline on Thursday, with technology stocks and broader risk aversion weighing on Canadian equities. The index closed at 35,605.27 points, down 736.13 points, or 2.03%, from Wednesday's 36,341.40 close. The closing figures were reported by The Canadian Press.
Technology Selloff Reaches Toronto
Thursday's decline reversed much of the previous session's post-election rally. Investing.com reported that the Canadian technology sector fell 5.4%, making it the weakest-performing sector, while Celestica declined 13.06%. The report attributed the broader reversal to renewed concerns about artificial-intelligence regulation, semiconductor weakness and elevated valuations in growth-oriented assets.
The move followed a 2.28% advance on Wednesday, when the benchmark closed at 36,341.40 points. S&P Dow Jones Indices identifies the S&P/TSX Composite as the broad Canadian equity-market benchmark and describes it as a float-adjusted, market-capitalization-weighted index.
Futures Point to Cautious Open
Before the Toronto session, December futures on the S&P/TSX 60 were down 0.3% at 5:42 a.m. Eastern Time, according to Reuters. The report said investors were still assessing the technology-led selloff, while weaker Brent crude prices added to the cautious tone. Futures are not the index itself and do not establish Friday's official S&P/TSX Composite level.
Investors were also looking ahead to Canada's employment report. A Reuters poll cited in the report forecast job gains of 13,600 in the latest month and an unchanged unemployment rate of 6.5%. The data could affect expectations for Canada's economic outlook and interest-rate policy. U.S. payroll data was also in focus for its potential implications for the Federal Reserve's policy path.
Key Test Is Incoming Data
The immediate market setup combines a large one-day decline with continued sensitivity to technology valuations, commodity prices and macroeconomic data. Thursday's selloff does not by itself establish the direction of Friday's close; the employment figures and the market's response to global technology weakness remain the more direct tests for the next session.
Further coverage of the S&P/TSX Composite is available in the index topic.
