TSX Extends Sell-Off as Bond Yields Weigh on Banks and Miners

The Toronto Stock Exchange (TSX) extended its sell-off on Thursday, September 24, 2026, as the S&P/TSX Composite Index fell by 167.03 points, or about 0.47%, to 35,584.40 in late-morning trading. This followed a heavy session on Wednesday, when the index dropped 584.18 points, or 1.61%, to close at 35,751.43.

The main headwind for the TSX is the global bond sell-off, with US 10-year Treasury yields reaching around 5.1% and Canadian bond yields tending to follow suit. This has raised borrowing costs and pressured large bank stocks that dominate the index.

Banks such as Royal Bank of Canada and TD Bank fell by 2%, while miners like Agnico Eagle dropped by 3.9%. Precious-metal prices remained under pressure, with gold falling to $4,284.70 an ounce. However, energy was a bright spot, with the November crude oil contract rising to $95.78 a barrel.