Canadian stocks fell sharply on Friday as investors continued to watch developments in the ongoing U.S.-Iran conflict, while better-than-expected economic data and largely upbeat corporate results failed to offset broad-based selling pressure. The S&P/TSX Composite Index plunged by 143 points, or 0.4%, to settle at 35,226 — its lowest closing level in more than a week.
Despite gains in healthcare stocks, steep declines in other key sectors like mining, technology, and real estate dragged the TSX benchmark down.
Top TSX Composite movers and active stocks
Telus (TSX:T) plunged by more than 11% to $13.38 per share, making it the worst-performing TSX stock for the day. This selloff in Telus stock followed the company’s second-quarter 2026 results, which included a 55% dividend reset, weaker full-year guidance, and a $2.1 billion non-cash impairment charge that pushed it to a net loss of $1.8 billion.
While Telus’s management said these moves are aimed at reducing debt and supporting long-term growth, investors reacted negatively to its lower payout and revised outlook.
TerraVest Industries, Eldorado Gold, and Southern Cross Gold were also among the worst performers on the Toronto Stock Exchange, with each diving by at least 7.5%.
Bausch Health, Baytex Energy, Gildan Activewear, and Lightspeed were the top-performing TSX stocks for the day, with each diving by at least 4.8%.
Based on their daily trade volume, Telus, Equinox Gold, Denison Mines, Orla Mining, and Baytex Energy were the most active stocks on the exchange.
TSX today
Crude oil and gold prices were largely mixed while silver and copper trended higher in early trading on Tuesday, pointing to a mixed opening for the resource-heavy TSX index.
Meanwhile, Canadian investors continued to monitor uncertainty around the U.S.-Iran conflict after Washington and Tehran issued conflicting statements about whether fresh negotiations were taking place. At the same time, Iran said it was discussing temporary arrangements with Oman for shipping through the Strait of Hormuz, while insisting that Tehran would retain control over the route. These developments could keep commodity-linked TSX stocks volatile throughout the session.
On the corporate events front, several key TSX-listed companies, including International Petroleum, RB Global, Orla Mining, iA Financial, SSR Mining, Sienna Senior Living, Dream Industrial REIT, RioCan REIT, and Suncor Energy, will announce their latest quarterly results today, which could shape individual stock movements through the session.
Market movers on the TSX today
