10:27:40 EDT Mon 19 Oct 2026
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Globe/wire say TSX ekes out small gain amid AI worries

2026-10-19 08:22 ET - In the News

The Globe and Mail reports in its Saturday edition that Wall Street ended sharply lower on Friday, with CoreWeave, Broadcom and other AI-related tech stocks under renewed pressure, while a jump in oil prices spooked traders heading into the weekend. A Reuters dispatch to The Globe says the S&P/TSX Composite Index closed at 36,176.55, up 39.45 points, with strength in the energy sector helping to offset losses in tech stocks. Nasdaq extended losses from earlier in the week, hammered by concerns that debt-laden artificial-intelligence infrastructure companies may not turn profits in time to repay debts, particularly with borrowing costs expected to rise. Nvidia-backed CoreWeave slumped 12 per cent, bringing its loss over the past five sessions to 25 per cent. The data centre operator's bonds also sold off sharply this week, pushing yields above 15 per cent. Investors on Friday were also watching oil prices. Brent touched $110 (U.S.) a barrel for the first time since May on worries that escalating tensions in the Middle East could further tighten supplies. Adding to concerns around AI financing, some Anthropic investors and prospective investors are weighing a lower valuation in its upcoming initial public offering.

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