12:30:06 EDT Wed 27 May 2026
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Globe says TSX pulls back as war weariness sets in

2026-05-27 09:27 ET - In the News

The Globe and Mail reports in its Wednesday edition that Canada's main stock index gave back some recent gains on Tuesday as investors grew more cautious about prospects for an early deal to end the Iran war, with technology and financial stocks losing ground. The unbylined item says the S&P/TSX Composite Index ended down 177.02 points at 34,653.87, after posting four straight days of gains including a record closing high on Monday. "There's a sense of political exhaustion setting in," said Shiraz Ahmed, founder at Sartorial Wealth. "But Canadian investors are trying to continue with their long-term growth plans like most other environments we've seen in the past." The tech sector fell 1.6 per cent, with shares of Constellation Software down 3.2 per cent. Financials, the most heavily weighted sector by far, also ended lower. Canada's largest banks are due to begin reporting quarterly results today. Their profits are expected to have increased despite trade tensions, the Iran war and broader economic uncertainty, but now face tougher tests as more consumers struggle to pay debts and a subdued housing market weighs on their domestic business. The prices of gold and oil settled lower, while Nasdaq hit a record high.

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