NewsSignals AI analysis·Reuters·Oct 30, 2026

TSX posts steepest daily decline since June as gold slides

Grade Abearish AI signal$SPX$XAU$SHOP$WTI$BRENT

Canada’s TSX Composite plunged 1.74% on Friday, marking its steepest daily decline since June 5 as falling gold prices and concerns over AI spending weighed on equities. The materials sector dropped 4.8% as gold fell 3.5% to a one-year low, while technology shares lost 3% and Shopify declined 6.2%; the index closed at 35,620.03. Continued uncertainty over AI-related earnings growth, weakening economic data and expectations of further Bank of Canada rate hikes could keep pressure on Canadian equities.

Bullish strength: 25/100

Energy sector gained 1.7% as crude oil futures rose 2.1% to $104.12 per barrel.
The TSX remained up 1.09% for the month despite Friday's decline.

Bearish strength: 75/100

TSX Composite fell 1.74%, its steepest daily decline since June 5.
Gold dropped 3.5%, reaching a one-year low.
Materials sector declined 4.8% and technology fell 3%.
Concerns over reduced AI spending are raising doubts about future earnings growth.
Canada's economy stalled for a second consecutive month in August.
Investors expect further Bank of Canada interest rate hikes by January.

This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.

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