The selloff in Canadian stocks continued for the third consecutive session on Tuesday as weaker metals prices, inflation worries, and ongoing U.S.-Iran tensions kept investors cautious. The S&P/TSX Composite Index plunged by 300 points, or 0.8%, to settle at 36,368 — marking its steepest single-day decline in August and bringing it to its lowest level in a week.
Despite gains in healthcare, consumer cyclical, and energy stocks, sharp losses in other key sectors like mining, technology, and financials weighed heavily on the broader market and dragged the TSX benchmark lower.
Top TSX Composite movers and active stocks
Celestica, Wesdome Gold Mines, OceanaGold, and Aya Gold & Silver dived by more than 6% each, making them the worst-performing TSX stocks for the day.
On the brighter side, BRP (TSX: DOO) was the biggest gainer on the Toronto Stock Exchange, as its shares jumped nearly 8% to $95.31 apiece. This rally in DOO stock followed the launch of BRP Financial Services, a new retail financing program for customers and dealers in the U.S. market.
BRP said the offering is designed to improve the customer financing experience, support dealer sales, and strengthen its competitive position. In a separate development, the company also unveiled new Can-Am concept vehicles and refreshed its 2027 Sea-Doo lineup with more powerful engines and new models. These product and financing initiatives boosted investor optimism about BRP’s growth prospects in the U.S. market.
Bausch Health Companies, RB Global, and Altus Group were also among the day’s top-performing TSX stocks, with each climbing by at least 4%.
Based on their daily trade volume, Enbridge, Canadian Natural Resources, Telus, B2Gold, and Cenovus Energy were the five most active stocks on the exchange.
TSX today
Crude oil and natural gas prices remained elevated in early Wednesday trading as the U.S.-Iran standoff over the Strait of Hormuz showed no clear signs of easing. U.S. president Donald Trump said no talks with Tehran are currently underway or scheduled, while commercial shipping through the strait remains far below pre-war levels.
This combination of stalled diplomacy and rising regional tensions could keep crude prices volatile and increase uncertainty for the TSX energy sector and broader market stocks today.
While no major domestic economic releases are due, Canadian investors may also want to keep an eye on the latest Federal Open Market Committee (FOMC) meeting minutes later today for additional clues about the Federal Reserve’s policy outlook. Any indication that officials remain concerned about inflation could keep pressure on rate-sensitive stocks, while a more dovish tone may help improve broader market sentiment across North America.
Market movers on the TSX today
