TSX Closer: The Index Drops More Than 600 Points as Base Metals, Technology Stocks Slide

04:13 PM EDT, 10/30/2026 (MT Newswires) -- The S&P/TSX Composite Index dropped more than 600 points on Friday dragged down by steep losses in base metals, technology and healthcare stocks, while investors assessed fresh domestic economic data pointing to continued weakness in Canada's economy. The index closed down 629.00 points, or 1.7%, to 35,620.03, with most sectors in red. Base metals led the decliners, dropping 5.1%, followed by information technology and healthcare, which fell 3.0% and 2.8%, respectively. Shares in telecom and energy advanced 2.1% and 1.7%, respectively. The Battery Metals Index, which includes companies listed both on the TSX and TSX Venture Exchange, dropped 2.4%. In commodities, West Texas Intermediate (WTI) and Brent crude prices jumped on Friday as an attack on an oil tanker in the Strait of Hormuz renewed concerns over potential supply disruptions in the Middle East. Reports of further Houthi attacks on Saudi Arabian energy facilities and fears of escalating US-Iran tensions following next week's US midterm elections added to supply worries. December WTI crude oil contract settled up $2.12, or 2.1%, to $104.12 per barrel, while December Brent oil was last seen up $2.76, or 2.4%, to $117.64 per barrel. December Comex gold futures dropped 3.7%, or $148.30, to $3,886.80 per ounce at last look. In currencies, the US dollar edged lower 0.2% against the Canadian dollar, with USD/CAD at 1.3967 at last look. In economics news, Canada's gross domestic product is expected to contract by 0.1% on a monthly basis in September after remaining unchanged for a second consecutive month in August, according to Statistics Canada. August's "essentially unchanged" monthly reading reflected a 0.1% decline in services output, driven mainly by weakness in wholesale trade and public administration, offset by a 0.1% increase in goods production as manufacturing and construction grew, said the Ottawa-based agency. In stocks, Canadian National Railway (CNR.TO) closed down CA$0.40 at CA$173.28 on Friday after reporting Q3 adjusted earnings of CA$2.16 per diluted share from CA$1.83 a year ago. Revenue for the three months ended Sept. 30 rose to CA$4.77 billion from CA$4.17 billion.