# TSX Drops 1.1% as Bank and Mining Stocks Lead Market Decline

- URL: https://stocks.freetheai.org/news/tsx-drops-1-1-as-bank-and-mining-stocks-lead-market-decline-824351
- Published: 2026-10-14T20:25:47Z
- Category: markets; sentiment: bearish; impact: medium
- Symbols: [TSX:TSX](https://stocks.freetheai.org/symbols/TSX-TSX)
- Written by our AI from expert market sources across the web for FreeTheAI Stocks, built by Vibhek Soni
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The S&P/TSX Composite Index dropped 1.1% to close at 35,584 on Wednesday, led lower by declines in the banking, mining, and technology sectors. Technology firm Celestica plunged 9.2% following sharp losses among U.S. chipmakers, while Shopify fell 2.2%. Financial shares also slipped, with Bank of Montreal (BMO) and National Bank both losing 0.9%. Meanwhile, mining stocks extended losses alongside falling gold and silver prices, with Wheaton Precious Metals (WPM) down 4.8%, Agnico Eagle dropping 4.6%, and Barrick losing 4.0%.

Market pressure mounted after hotter-than-expected U.S. consumer price index data fueled expectations of a Federal Reserve interest rate hike. Rising crude oil prices stoked additional energy-driven inflation concerns, though higher crude supported select energy stocks, with Suncor Energy gaining 1.0% and Imperial Oil rising 0.6%. Retail stocks also showed strength, led by Alimentation Couche-Tard (ATD) with a 2.9% gain and Loblaw advancing 2.8%.

Investors will continue tracking central bank rate expectations and upcoming economic indicators to see how monetary policy developments impact Canadian equities. Future movements in global commodity prices and U.S. technology sector trends will also remain key drivers for the market's direction.

## Key points

- The S&P/TSX Composite Index closed down 1.1% at 35,584 on Wednesday due to weakness in banking and mining.
- Hotter U.S. CPI data raised expectations for a Fed rate hike, weighing on lenders such as BMO and National Bank.
- Falling gold and silver prices pulled down miners, with WPM dropping 4.8%, Agnico Eagle 4.6%, and Barrick 4.0%.
- Energy and retail sectors gained, led by ATD up 2.9%, Loblaw up 2.8%, and Suncor rising 1.0% on higher oil prices.

## Questions and answers

### Why did the TSX fall on Wednesday?

The S&P/TSX Composite Index fell 1.1% due to losses in banking and mining shares, driven by weaker metal prices and concerns over rising U.S. inflation data raising interest rate expectations.

### Which stocks declined the most on the TSX?

Celestica led tech losses with a 9.2% drop, while mining stocks WPM, Agnico Eagle, and Barrick fell 4.8%, 4.6%, and 4.0% respectively. Shopify also declined 2.2%.

### Which Canadian sectors gained despite the market drop?

Energy and retail sectors rose, supported by higher oil prices. Suncor gained 1.0%, Imperial Oil added 0.6%, ATD increased 2.9%, and Loblaw rose 2.8%.