Global markets faced significant volatility on Friday, November 6, 2026, as technology stocks led a steep decline following the U.S. midterm elections. Investors feared increased regulatory scrutiny on artificial intelligence and slower data center expansion under Democratic control. Wall Street futures were mixed, with the Dow pointing lower after the S&P 500 lost nearly US$3 trillion in market value the previous day, and the Nasdaq experienced its deepest one-day drop in 19 months.
In Canada, TSX futures were also in the red after a 2 per cent decline the day before. Investors awaited October jobs numbers, while earnings reports from major companies like Enbridge Inc., Brookfield Asset Management Ltd., and Telus Corp. were closely watched. Jane Gibbons, equity strategist at Jefferies, described the selloff as 'reactionary, not a fundamental reset,' driven by concerns around AI spending, policy, and inflation.
Commodities saw mixed movements, with oil prices stabilizing but set for a sharp weekly decline. Brent crude futures for January fell 0.19 per cent to US$98.10 a barrel, while West Texas Intermediate (WTI) futures were little changed at US$90.54. Spot gold dropped 0.3 per cent to US$4,076.91 an ounce. The Canadian dollar weakened against the U.S. dollar, trading at 71.00 to 71.45 US cents in early trading.
Key economic data releases included Canadian and U.S. employment numbers for October, with expectations of modest job gains. The U.S. 10-year note yield rose to 5.854 per cent, reflecting ongoing market uncertainty.