The TSX falls 1.7% to a two-and-a-half-month low as the loonie slips to about 70 US cents
The S&P/TSX Composite Index closed at 35,041.86, down 607.65 points, or 1.70%, its lowest close in two and a half months, according to Investing.com. The Canadian Press wire story had the index down 615.69 points at 35,033.82 in late-morning trading and later put the decline at 607.65 points. The loonie traded at 70.14 US cents, from 70.29 on Tuesday, about C$1.4257 per U.S. dollar. Investing.com blamed a stronger U.S. dollar and higher yields. In New York the S&P 500 fell 0.22% to 7,801.77, West Texas Intermediate settled near US$88.28, down 1.3%, and gold near US$4,140.70, down 1.1%.
The S&P 500 fell only 0.22%, so the TSX drop was much larger than New York's. Investing.com pointed to the stronger U.S. dollar and higher yields; we did not find an outlet that broke the decline down by sector.
If you hold a Canadian index fund, Wednesday's (Oct. 7) drop more than erased Monday's and Tuesday's gains. If you hold U.S. dollars, they bought slightly more.
One day is noise. Watch whether the index holds above 35,000 on Thursday, and whether oil near US$88 keeps sliding.
DailyDrop Canada edition No. 3 · Morning · WED., OCT. 7, 2026