Stocks Dip as Miners Slump

Equity markets in Canada’s largest centre fell on Tuesday, as declines in mining and financial shares outweighed gains in health-care stocks amid rising global bond yields and uncertainty surrounding the Middle East conflict, which kept investors wary of riskier bets.

The TSX trundled lower 301.15 points to reach noon EDT Tuesday at 36,366.77.

The Canadian dollar let go of 0.10 cents, to 72.10 cents U.S.

In company news, NexGen Energy is sharing information and "talking regularly" with mining giant BHP about its Rook I mining project in Saskatchewan, CEO Leigh Curyer told Reuters on Monday, when asked about a potential equity stake.

NexGen lost 98 cents, or 6.6%, at $13.93.

On the domestic front, home sales rose for a fourth straight month in July, according to data from the Canadian Real Estate Association.
CREA says the number of home sales recorded over Canadian MLS® Systems climbed a further 0.5% on a month-over-month basis in July 2026, marking a fourth consecutive monthly gain.

Total monthly of housing starts for all areas in Canada decreased 5% in July (229,074 units) compared to June (240,773 units).

ON BAYSTREET

The TSX Venture Exchange reversed 18.47 points to 945.69.

Eight of the 12 TSX subgroups were higher, however, led by health-care, up 1.1%, while real-estate surged 0.7%, and consumer staples gained 0.5%.

The four laggards were weighed by gold, down 2.9%, materials, retreated 2.7%, and information technology, off 1.6%.

ON WALLSTREET

The S&P 500 fell on Tuesday, pressured by a run in sovereign bond yields to multidecade highs amid concerns of persistent inflation and elevated oil prices. A pullback in semiconductor stocks also weighed on the broader market.

The Dow Jones Industrials slid 133.39 points Tuesday to 53,326.39, aided by a more than 1% advance in Home Depot shares after the home improvement giant posted a second-quarter earnings beat.

The much-broader index fell 48.26 points to 7,696.80.

The NASDAQ Composite tumbled 338.43 points, or 1.3%, to 26,306.48.

Western Digital fell more than 7%, weighing on the Nasdaq. Sandisk dropped more than 8%. Marvell Technology and Seagate Technology were also both down by more than 8%.

Hopes for an end to the Middle East conflict continued to fade Tuesday after President Donald Trump said in a Truth Social post Tuesday that the U.S. is not currently engaging in any “talks or conversations” with Iran, nor are there any scheduled. He also said that the naval blockade “remains in full force and effect.”

Prices for the 10-year Treasury inched up, lowering yields to 4.72% from Monday’s 4.73%. Treasury prices and yields move in opposite directions.

Oil prices surged 84 cents to $85.34 U.S. a barrel.

Gold prices sank $57.70 to $4,416 U.S. an ounce.