S&P/ TSX Composite closes 1.74% lower at 35,620.03

Published on 10/30/2026 at 22:46 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

The S&P/TSX Composite suffered its steepest daily decline since June as technology and materials shares came under heavy selling pressure. Concerns about artificial intelligence spending, weaker gold prices and soft Canadian economic data weighed on sentiment.

TSX ends October under pressure

The S&P/TSX Composite closed at 35,620.03 on October 30, 2026, down 629 points or 1.74 percent.
Technology and materials shares led the decline as investors reassessed artificial intelligence spending and gold prices fell sharply.
The index still gained 1.09 percent for October after declining 2.85 percent in September.

S&P/TSX Composite, XC0009693034, Illustration mit AI erstellt.

The S&P/TSX Composite closed sharply lower on Friday, October 30, 2026, ending the session at 35,620.03. The index lost 629 points, or 1.74 percent, in its steepest daily decline since June 5 and finished at its lowest closing level since October 14, according to a Reuters report carried by MarketScreener.

Technology and materials lead retreat

The sell-off was concentrated in two important parts of the Canadian benchmark. Technology stocks fell 3 percent, while the materials sector dropped 4.8 percent as gold prices declined 3.5 percent to a one-year low. Financials, another heavily weighted sector, fell 1.6 percent, and industrials ended 1.2 percent lower.

Investors were also reacting to renewed concerns about the scale and profitability of artificial intelligence investment. Disappointing results and outlooks from major US technology companies intensified questions about whether heavy AI spending will translate into sufficient earnings growth. The North American technology retreat therefore added pressure to Canadian technology and mining shares, although the market move itself does not establish a single causal factor.

Gold weakness weighs on miners

Gold-related shares were among the weakest performers. A separate Baystreet.ca market report said gold stocks weighed heavily on the final trading day of the week and month. Cameco fell after missing third-quarter revenue estimates, while several gold and materials companies also recorded sizable declines.

Canadian economic data provided little support. Statistics Canada reported that gross domestic product was essentially unchanged in August for a second consecutive month. At the same time, energy was one of the few areas to advance, supported by higher oil prices.

Monthly gain remains intact

Despite Friday's reversal, the benchmark finished October 1.09 percent higher, following a 2.85 percent decline in September. The October result therefore remained positive, but the late-month sell-off reduced the index's cushion and highlighted the sensitivity of Canadian equities to commodity prices, global technology sentiment and expectations for interest rates.

Further coverage is available on the S&P/TSX Composite topic page.