TSX Slids To 1-month Low; Tech Stocks Under Pressure Again

(RTTNews) - The Canadian market is down firmly in negative territory a little before noon on Friday after strong jobs data raised the possibility of the Canadian central bank leaving interest rates unchanged at its next monetary policy meeting.

Concerns about high valuations of AI-related stocks, and uncertainty about growth due to the steep U.S. tariffs on most of the exports from Canada are also weighing on sentiment.

Data from Statistics Canada showed the unemployment rate in Canada fell to 6.9% in October from the four-year high of 7.1% in the previous month.

The economy added 66,600 jobs in October following a 60,400 increase in September.

The benchmark S&P/TSX Composite Index, which drifted down to 29,538.94 was down 303.97 points or 1.02% at 29,564.62 a little before noon.

Technology stocks are reeling under pressure. The Information Technology Capped Index is down 4.7%. Celestica Inc. is down more than 10%. Lightspeed Commerce and Bitfarms are plunging 7% and 6%, respectively.

Docebo Inc., Shopify, Open Text Corporation, Computer Modelling Group, Kinaxis and Blackberry are down 3 to 6%.

Healthcare stocks Chartwell Retirement Residences, Bausch Health Companies and Sienna Senior Living are down 3%, 1.5% and 1%, respectively.

Real estate stock Altus Group is down more than 16% after the company's third-quarter results fell short of expectations.

In the financials sector, Goeasy is down 3.6% and Brookfield Corporation is down 2.1%. Fairfax Financial Holdings, EQB Inc., Sun Life Financial, Brookfield Asset Management, Manulife Financial, Toronto-Dominion Bank and Royal Bank of Canada are down 1 to 2%.

Emera Inc. is gaining 1.1% after reporting net earnings of C$228 million for the third quarter of current financial year, up from C$4 million a year ago.

Ensign Energy Services Inc. is down 1.2% after the company reported funds flow from operations of C$88.221 million, or C$0.47 per share in the three months to September 2025, less than C$116.914 million, or $0.63 per share, in the same period last year.

Onex Corp is down nearly 1%. The company reported third-quarter net earnings of $39 million, or $0.57 a share, compared to $127 million, or $1.68 a share, last year.

Brookfield Asset Management Ltd is down by about 1% despite reporting higher quarterly earnings. The company reported third-quarter earnings of $724 million or $0.44 per share, compared to $544 million or $0.34 per share in the year-ago quarter.