TSX Set for 3rd Weekly Slump

2026-03-20 13:36 By Felipe Alarcon 1 min. read

The S&P/TSX Composite Index fell around 0.3% to below the 31,800 mark on Friday, setting the index on track for a third straight weekly loss of nearly 2.5%, as investors monitored escalating Middle East tensions.

Materials stocks were the primary laggards following a sharp drop in gold prices with Agnico Eagle Mines, Barrick Gold, and Wheaton Precious Metals plunging around 6%.

Financial heavyweights remained under pressure as Royal Bank of Canada and the Bank of Nova Scotia fell over 1% despite earlier stability from the Bank of Canada holding rates steady at 2.25% on March 18th.

Energy producers provided a partial cushion as Cenovus Energy surged nearly 4% and Canadian Natural Resources rose over 1% amid ongoing geopolitical tensions in the Middle East.

These developments followed recent data showing retail sales rose 1.5% in January and a 5.4% advance in the PPI while traders monitored diplomatic signals from US and Israeli leadership regarding the vital Strait of Hormuz.



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