TSX Holds Nearly Flat as U.S. Markets Slide
Canada's main index slipped just 10 points to 36,136 on Thursday — far calmer than Wall Street, where the Dow fell 464 points — while the loonie firmed to 71.34 cents US.
The S&P/TSX Composite Index finished Thursday essentially flat, easing 10.11 points to 36,136.31 as losses among consumer-cyclical stocks were largely offset elsewhere. It was a quiet day in Toronto against a much weaker backdrop south of the border, where all three major U.S. indexes fell.
Wall Street did the heavy lifting to the downside
The Dow Jones Industrial Average dropped 464.02 points to 53,885.10, the S&P 500 slipped 13.59 points to 7,709.96, and the Nasdaq composite eased 15.09 points to 26,348.35. The TSX's roughly flat close left it holding near the record territory it reached earlier in the week.
The loonie firmed
The Canadian dollar closed slightly higher, trading at 71.34 cents US versus 71.30 cents on Wednesday. A steadier loonie and Canada's commodity-heavy index — which often moves differently from the tech-led U.S. benchmarks — helped the TSX sidestep the worst of the day's selling.
For Canadian investors
Sessions like this are a reminder of why holding both Canadian and U.S. exposure matters: the two markets don't always move together, and a broad, diversified portfolio smooths out single-market swings. A 0.03% move in one index is rarely worth reacting to.
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General news and information, not individualized financial advice. Figures reflect the publication date.