S&P/ TSX Composite heads into Thursday after 1.7 percent slide
Published on 10/08/2026 at 13:04 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
The S&P/TSX Composite heads into Thursday after closing at 35,042 points on October 7, 2026, down 1.7 percent. The decline followed a selloff in gold, materials and financial stocks as rising bond yields strengthened expectations for restrictive monetary policy, Investing.com reported.
Gold and financials lead the decline
The materials sector fell 2.7 percent in morning trading on October 7, while financial stocks declined 1.7 percent, according to Reuters via Marketscreener. Royal Bank of Canada and Toronto-Dominion Bank each fell more than 1.7 percent in that update.
The index finished 607.65 points below the previous close at 35,041.86 points. Yahoo Finance said gold and materials fell 3 percent by the close, while consumer staples, telecommunications and health care gained.
Rates stay at the center of the market
Canada's 10-year government bond yield reached 3.985 percent and the two-year yield reached 3.267 percent on Wednesday, according to Yahoo Finance. Brent crude was at USD 100.91 a barrel and gold was at USD 4,114 an ounce in the same market update.
The September Federal Reserve minutes reinforced expectations that another rate increase may be appropriate before year-end. U.S. 10-year and 30-year yields also rose, adding pressure to interest-rate-sensitive equities, Reuters via Kitco reported.
What comes next
U.S. initial jobless claims are scheduled for 8:30 a.m. ET on October 8, with a consensus forecast of 200,000 against 197,000 previously. The U.S. Treasury is scheduled to auction USD 22 billion of 30-year bonds at 1:00 p.m. ET. Federal Reserve Governor Christopher Waller is also due to speak, according to Investing.com. Canada's September employment report is scheduled for October 9 at 8:30 a.m. ET, with employment forecast to rise by 9,000, according to Trading Economics.
