TSX Falls 2% as the Nasdaq Drops 5.5%: Why Canada’s Banks Took the Hit
The S&P/TSX Composite closed down 2.03% at 35,605.27 on Thursday, the smallest decline of the four big North American indices. The Nasdaq Composite fell 5.52% to 24,315.00, the S&P 500 fell 4.36% to 7,353.73, and the Dow lost 1,833.06 points, or 3.44%, to 51,523.06.
The last hour and a half made the day heavier rather than different. Financials went from -2.80% and 0.999 percentage points of drag at 2:36 p.m. to -3.20% and 1.141 points at the bell, which is 56% of the 2.023 point decline our bottom-up decomposition accounts for. Materials flipped from a 0.050 point drag to a 0.062 point positive, and energy also got worse, from -1.28% and 0.203 points of drag to -1.94% and 0.307. Technology was the worst sector by return at -4.28%, but at 8.23% of the index it cost only 0.352 points.
Canadian banks were not singled out: no Canadian bank reported on Thursday and no bank-specific news broke. US financials fell about as hard, and because financials are 35.69% of the S&P/TSX Composite against 12.55% of the S&P 500, the same sector move did nearly three times as much to our index as it did to theirs.
The closing tape
| Index | Close | Change | Prior close, Nov 4 |
|---|---|---|---|
| S&P/TSX Composite | 35,605.27 | -2.03% | 36,341.40 |
| S&P 500 | 7,353.73 | -4.36% | 7,688.62 |
| Nasdaq Composite | 24,315.00 | -5.52% | 25,736.51 |
| Dow Jones Industrial Average | 51,523.06 | -3.44% | 53,356.12 |
November 5, 2026 closing levels from our own market close data, with Yahoo Finance trade data behind the tape. Changes are against the November 4 closes in the right-hand column.
Wednesday was the mirror image. The TSX gained 809.10 points then and gave back 736.13 of them on Thursday, which is 90.98%.
The VIX closed at 28.18, up 69.66% from Wednesday’s 16.61. On three years of our own daily closes, that is its highest close since March 30, 2026, when it finished at 30.61.
For the Nasdaq this was the worst session since April 2025. On those same three years of closes only two were this bad or worse, the most recent April 4, 2025 at -5.82%. CNBC framed the day the same way.
The bond market was less emphatic. The US 10-year Treasury yield closed at 4.837%, down from 4.894%, a fall of 5.7 basis points, which are hundredths of a percentage point. That is a muted rally for a session in which the Nasdaq fell 5.5%, and it complicates a simple risk-off reading rather than confirming it.
Canada kept its election rally and the US gave it back
A more useful starting point than Wednesday’s close is Tuesday November 3, the last session before the midterm result moved markets.
| Index | Nov 3 close | Nov 5 close | Change |
|---|---|---|---|
| S&P/TSX Composite | 35,532.30 | 35,605.27 | +0.21% |
| S&P 500 | 7,568.92 | 7,353.73 | -2.84% |
| Nasdaq Composite | 25,372.01 | 24,315.00 | -4.17% |
Daily closing levels from our own close history. Both ends of each comparison are closes.
Canada is still above where it stood before the result, by a whisker. Both US indices have handed that rally back and then some.
One index crossed a line on Thursday. The Nasdaq finished 11.90% below its highest close of the past two years, 27,599.79 on October 6, which is what the word correction conventionally describes. Our guide to the difference between a correction and a bear market sets out where those thresholds sit. The S&P 500 closed 5.95% below its own October 6 high of 7,818.93, and the TSX 3.66% below its high of 36,957.60, set earlier on August 25, 2026.
What the S&P/TSX Composite is made of
The arithmetic below is built bottom-up from the iShares S&P/TSX Capped Composite Index ETF daily holdings disclosure and the equivalent S&P 500 fund, holdings as of November 4. The model covers 99.81% of index weight and totals -2.023 percentage points against the index’s printed -2.026%.
| Sector | TSX weight % | S&P 500 weight % | Sector return % | Contribution to TSX, pp |
|---|---|---|---|---|
| Financials | 35.69 | 12.55 | -3.20 | -1.141 |
| Information Technology | 8.23 | 36.63 | -4.28 | -0.352 |
| Energy | 15.82 | 3.50 | -1.94 | -0.307 |
| Industrials | 10.51 | 8.13 | -1.87 | -0.197 |
| Consumer Discretionary | 3.20 | 9.46 | -2.53 | -0.081 |
| Consumer Staples | 3.20 | 5.07 | -1.27 | -0.041 |
| Health Care | 0.33 | 10.35 | -1.10 | -0.004 |
| Real Estate | 1.22 | 1.86 | -0.34 | -0.004 |
| Utilities | 3.39 | 2.07 | +0.08 | +0.003 |
| Communication | 1.52 | 8.61 | +2.56 | +0.039 |
| Materials | 16.70 | 1.77 | +0.37 | +0.062 |
Sector weights and returns from the iShares XIC and XUS daily holdings disclosure, holdings as of November 4, 2026, rebuilt bottom-up into index contributions on November 5 closing prices. Contributions are percentage points of the index’s return, not index levels.
Financials fell a comparatively mild 3.20% and cost 1.141 percentage points, because they are 35.69% of the index. One sector did 56% of the damage, and no Canadian bank reported on Thursday and no Canadian bank news broke. The selling was not selective either: 147 of the 216 index constituents in our holdings file fell and 69 rose.
Sun Life is the exception inside the financials number, because it reported after Wednesday’s bell. It contributed -0.1256 percentage points, 11.0% of the financials figure and 6.2% of the index move. Strip it out and financials still contribute -1.016 points against an index that would model -1.897, which makes them 53.5% of the decline rather than 56.4%. The claim survives the subtraction.
US financials fell about as hard as Canadian ones.
| Financials proxy | Close | Day |
|---|---|---|
| Financial Select Sector SPDR (XLF) | 57.50 | -2.87% |
| S&P/TSX financials fund (XFN.TO) | 94.91 | -3.29% |
| BMO equal weight banks fund (ZEB.TO) | 75.36 | -3.06% |
| JPMorgan Chase | 337.34 | -4.19% |
| Bank of America | 49.76 | -3.62% |
| MetLife | 99.75 | -3.05% |
| Prudential Financial | 122.46 | -3.29% |
Our own arithmetic on Yahoo Finance daily closes, November 5 against November 4. XLF, XFN.TO and ZEB.TO are exchange-traded funds used as sector proxies, not the sectors themselves.
Canadian financials fell 3.20% on our decomposition, against 2.87% for the US sector fund and 3.6% to 4.2% in the large US banks and insurers. The moves were close and the weights were not.
Financials and technology nearly swapped jobs
Canada’s index normally has somewhere to hide on a day like this, and on Thursday it did not. Across the ten sessions in the past two years in which the S&P 500 fell 2% or more, Canadian financials fell a median 1.51% against the Canadian index’s median 1.88%, while Canadian technology fell a median 4.07%.
| Measure | Median, those 10 sessions | November 5 |
|---|---|---|
| S&P/TSX Composite | -1.88% | -2.03% |
| Canadian financials fund (XFN.TO) | -1.51% | -3.29% |
| Canadian technology fund (XIT.TO) | -4.07% | -3.84% |
Our own arithmetic on two years of daily closes, taking the ten prior sessions in which the S&P 500 fell 2% or more. XFN.TO and XIT.TO are exchange-traded funds standing in for the sectors, not the bottom-up constituent computation used in the sector table above.
Canadian financials fell more than the index in only 5 of those 10 sessions, so on that evidence it is close to a coin flip, and on the median they fell less than the index did. Technology took the worst of it every time. Thursday ran the other way: on the same fund basis financials fell 3.29% against the index’s 2.03%, and technology fell 3.84%, so financials fell almost as hard as technology did. The usual division of labour is that financials cushion a US selloff while technology absorbs it, and those two roles nearly swapped places.
Ten sessions is a small sample, and the sector lines above are fund proxies rather than the constituent-level arithmetic the rest of this piece uses, so read the inversion as a signal about Thursday and not as a rule. The weighting underneath it is not in doubt: 35.69% financials against 12.55% means the same sector move does nearly three times as much to our index.
This was not a rate story
If a jump in yields had done this, the rate-sensitive corners of the index would have led the fall. They were the two flattest sectors on the board: real estate fell 0.34% and utilities rose 0.08%, together worth one thousandth of a percentage point. Canadian yields had in fact been falling into this session.
| Term | Nov 4 | Nov 3 | Oct 29 |
|---|---|---|---|
| 2-year | 3.22% | 3.26% | 3.36% |
| 5-year | 3.43% | 3.49% | 3.58% |
| 10-year | 3.70% | 3.77% | 3.84% |
Canadian benchmark bond yields, Bank of Canada Valet series BD.CDN.2YR.DQ.YLD, BD.CDN.5YR.DQ.YLD and BD.CDN.10YR.DQ.YLD. The series lags one day, so the latest available reading is Wednesday November 4, 2026.
Falling yields are not what takes 3.20% out of Canadian financials. This was equity-market de-risking plus one bad earnings reaction, not a rate shock.
The names that did the damage
| Name | Weight % | Return % | Contribution, pp |
|---|---|---|---|
| Shopify | 4.97 | -5.40 | -0.268 |
| TD Bank | 5.69 | -3.57 | -0.203 |
| Royal Bank | 7.84 | -2.29 | -0.180 |
| Bank of Nova Scotia | 3.17 | -4.41 | -0.140 |
| Sun Life | 1.23 | -10.21 | -0.126 |
| Celestica | 0.80 | -12.66 | -0.101 |
| CIBC | 2.95 | -3.15 | -0.093 |
| Suncor | 2.28 | -4.06 | -0.093 |
| Manulife | 2.06 | -3.96 | -0.082 |
| Bank of Montreal | 3.35 | -2.39 | -0.080 |
| Brookfield Corp | 2.49 | -2.79 | -0.070 |
| National Bank | 1.62 | -2.29 | -0.037 |
The twelve largest single-name drags from the financials, technology and energy blocks that drove the session, on the same closing decomposition as the sector table, iShares XIC holdings as of November 4, 2026. This is not a complete ranking of the index’s largest drags: Teck Resources at -0.056, Bombardier at -0.048, Lundin Mining at -0.047 and Gildan at -0.042 each cost more than National Bank’s -0.037, among others. Contributions are percentage points of the index’s return.
Shopify was still the single biggest drag, and with Celestica it is where the index holds this exposure directly: our Canadian AI stocks page covers that bucket. But the six banks together contributed -0.733 percentage points, 36% of the index move and roughly two and three quarter times Shopify’s -0.268. Sun Life and Manulife take that to -0.940, and the remaining sixteen financials names in the index carry it the rest of the way to -1.141.
The worst returns are a different list, because the heaviest falls happened in smaller names. Gildan fell 18.86%, Russel Metals 13.62%, Celestica 12.66%, Lundin Mining 11.43%, Sun Life 10.21%, Lightspeed 9.60%, Hammond Power 8.91%, Ero Copper 8.69% and Bombardier 8.42%. Gildan, Lightspeed, Bombardier and Sun Life all reported on their own schedule.
Gildan reported before the open and fell 18.86%. That fall contributed -0.0415 percentage points of consumer discretionary’s -0.0811, so one reporting company accounted for 51% of an entire sector’s drag.
Three other Canadian companies reported before the open and barely moved. On a day the Nasdaq fell 5.52%, Canadian Natural Resources closed down 1.04%, TC Energy up 0.23% and Open Text down 1.38%, every one of them inside a percent and a half of flat. That is what it looks like when a selloff is not about Canadian business conditions.
Sun Life raised its dividend and fell 10.21% anyway
The headline was good. From page 1 of Sun Life’s own third quarter earnings release: underlying net income $1,146 million, up 9%; underlying earnings per share $2.05, up 10%; underlying return on equity 19.0% against 18.3%; and the dividend raised from $0.96 to $1.00. Reported net income fell 29% to $785 million, which page 2 attributes to unfavourable interest rate impacts, acquisition and restructuring charges tied to the GreenOak and Bell Partners integrations, and a prior-year gain from increased ownership in Bowtie.
The most likely explanation for the share price sits on page 3, in the flows. It reports “Total Sun Life Asset Management net outflows of US$22.8 billion in Q3’26 (Q3’25 – net inflows of US$3.0 billion)”, driven by MFS net outflows of US$26.9 billion against US$0.9 billion a year earlier. Those asset-management figures are US dollars inside a release otherwise reported in Canadian dollars. Sun Life released after Wednesday’s close and held its analyst call at 11:00 a.m. ET Thursday.
The upside was precious metals, and it strengthened into the bell
| Name | Return % | Contribution, pp |
|---|---|---|
| Agnico Eagle | +3.33 | +0.084 |
| Franco-Nevada | +3.94 | +0.050 |
| BCE | +4.58 | +0.024 |
| Wheaton Precious Metals | +1.21 | +0.020 |
| Constellation Software | +1.32 | +0.019 |
| Barrick Mining | +0.82 | +0.015 |
Positive contributors from the same November 5 closing decomposition on iShares XIC holdings as of November 4, 2026.
Agnico Eagle was the largest positive contributor in the index, and both Agnico and Franco-Nevada closed well above where they traded at mid-afternoon: the gold trade was strengthening while the banks were being sold. Gold closed at US$4,100.80, up 0.68%, on the December contract, and the gold sector fund rose 2.17%. Our Canadian gold stocks page covers that part of the index. Materials was the largest positive block, about 60% of the 0.104 percentage points the three green sectors added between them. BCE, which reported that morning, closed up 4.58%, and Quebecor, which also reported, closed up 4.36%.
Composition explains about a seventh of the gap
Take the TSX’s own closing sector returns and apply the S&P 500’s sector weights instead, both weight columns normalised to 100 so nothing but the weighting changes. The TSX would have fallen 2.383% rather than the 2.026% it printed. Composition saved Canada 0.357 percentage points out of a 2.33 point gap between the two indices, which is 15%. This is a counterfactual on one set of weights, not a formal attribution model, and 15% is as far as it goes.
The rest of the gap is not explained by weights. It is consistent with US constituents inside the same sectors falling harder than their Canadian counterparts: Canadian technology fell 4.28% as a sector, while at the close Nvidia was down 9.26%, Broadcom 10.43%, Qualcomm 9.49%, AMD 17.26% and Micron 17.46%. Shopify at -5.40% is not Micron at -17.46%. Canada carries 9.75% of index weight in technology plus communication against 45.24% for the S&P 500, and the little it owns is not where the selling was worst.
A gap this wide is rare and the direction is not
We ran the daily gap between the TSX’s return and the S&P 500’s across two years of closes, 510 completed sessions. The median is +0.04 percentage points and the TSX finishes ahead on 53% of them, so on an ordinary day this is close to a coin flip. Thursday’s closing gap of +2.33 percentage points sits in the 99.6th percentile: only 2 of the 510 prior sessions were this wide or wider, about one in 255.
The fall itself is uncommon for the Canadian index. On our own arithmetic on those same daily closes, the S&P/TSX Composite dropped 2% or more on 8 of the 510 prior sessions, about one session in 64. Thursday was the ninth.
Narrow the sample to sessions where the S&P 500 fell 2% or more and there are 10 in two years. The TSX outperformed in all 10, median gap +1.10 percentage points, and Thursday’s +2.33 is the 90th percentile of those ten. Ten sessions is a small sample. The direction is what normally happens when the US has a bad day; the magnitude is close to the widest we have.
The same blocks drove Wednesday’s rise and Thursday’s fall
| Sector | Wed weight % | Wed return % | Wed contrib pp | Thu weight % | Thu return % | Thu contrib pp |
|---|---|---|---|---|---|---|
| Financials | 35.45 | +3.05 | +1.080 | 35.69 | -3.20 | -1.141 |
| Materials | 15.96 | +7.34 | +1.172 | 16.70 | +0.37 | +0.062 |
| Energy | 16.91 | -4.16 | -0.704 | 15.82 | -1.94 | -0.307 |
| Information Technology | 8.16 | +3.13 | +0.255 | 8.23 | -4.28 | -0.352 |
Our own index decompositions on both sessions, identical cap-weighted basis. Wednesday’s run printed +2.277% against +2.274 percentage points modelled and covered 99.9% of index weight; Thursday’s is the closing run above.
Materials was Wednesday’s largest sector contributor at +1.172 percentage points, financials second at +1.080. On Thursday financials is the largest at -1.141 and materials added +0.062, the only one of these four blocks positive on both days: gold led on the way up and helped hold the floor on the way down. Energy was Wednesday’s drag at -0.704 points and only -0.307 on Thursday as crude recovered. Our Wednesday recap of why the TSX jumped 2.3% as the midterms sank oil and lifted gold covered that side of the same trade.
This did not start today
| Name | Peak date | At Nov 4 close | At Nov 5 close |
|---|---|---|---|
| Micron | Oct 1 | -27.53% | -40.19% |
| AMD | Oct 6 | -24.74% | -37.73% |
| Broadcom | Aug 7 | -23.91% | -31.85% |
| Celestica | Oct 6 | -40.15% | -47.73% |
| Nvidia | Oct 6 | -16.35% | -24.09% |
| Qualcomm | Sep 25 | -14.25% | -22.39% |
| Shopify | Oct 15 | -15.77% | -20.31% |
| Canadian technology stocks | Oct 13 | -7.40% | -10.96% |
Distance from each name’s highest close of the past three months, our own arithmetic on daily close history, with highs taken from prior closes only. The Canadian technology line is an exchange-traded fund tracking TSX technology stocks, used as a sector proxy.
Most of the damage in the US names was done before Thursday opened. The two Canadian rows are the ones to sit with: Shopify closed 20.31% below its October 15 peak, Canadian technology stocks 10.96% below theirs.
Wednesday is the cleanest evidence this did not begin on Thursday. On a session the Nasdaq finished up 1.44%, Nvidia fell 3.17%, Tesla fell 3.34% and Celestica fell 9.15%. Money was leaving these names while the index was rising. Celestica has gone from a November 3 close of $363.50 to $288.43, which is 20.65% across two sessions. Sun Life is the opposite case, 0.93% below its three-month high of $115.59 at Wednesday’s close and 11.04% below it tonight. The AI names bled for a month; Sun Life did it in one session.
What the market is blaming, in both directions
Commentary split between two explanations.
The first is data centre policy after Tuesday’s midterms, positions carried by Fortune and DataCenterDynamics. Texas Governor-elect Gina Hinojosa said in an October 22 video, as reported, that when she is governor she will issue a moratorium, a ban, on all data centre approvals until laws can be passed by the Legislature to protect Texans, and her broader platform includes letting local communities vote on projects. Ohio Governor-elect Amy Acton backs a conditional moratorium requiring data centres to cover 100% of their utility costs and build with union labour, and Georgia Governor-elect Keisha Lance Bottoms pledged a temporary statewide pause. Every one of these is a campaign pledge. None is law, none has taken legal effect, and none of these governors has taken office, all three taking office in January 2027. Reuters also reported those governors-elect positions. CNN and CNBC both tied the session to the midterm results and to data centre policy risk.
The second is Qualcomm, which reported fiscal fourth quarter results on Wednesday and closed down 9.49% at $156.75. From Exhibit 99.1 to its Form 8-K, GAAP revenue was $10,322 million, down 8% year over year, and non-GAAP diluted earnings per share were $2.17, down 28% from $3.00. QCT handset revenue was $5,137 million, down 26%. The company guided fiscal first quarter 2027 revenue of $10.4 billion to $11.2 billion and non-GAAP diluted EPS of $2.15 to $2.35, with the footnote “Guidance as of the first quarter of fiscal 2027 is inclusive of Data Center.” The same document has the company “reiterating our fiscal 2027 Data Center revenue target of $5B” and projecting non-handset revenues “to grow by more than 60% year-over-year”. All figures are US dollars. A company whose results are being read as an AI spending scare restated its AI target in the same release, and the part that deteriorated was phones.
Oil and crypto
WTI crude settled at US$90.53, up 2.73% from US$88.12 on Wednesday. That is the NYMEX December contract, CLZ26.NYM, priced on the 2:28 to 2:30 p.m. ET settlement window, which is the exchange’s own method, from our calculation on Yahoo Finance trade data. On the same contract, so no comparison crosses a roll, crude settled at US$96.12 on Tuesday November 3, the last session before the midterm result, and at US$88.12 on Wednesday. Thursday’s settlement takes back about 30% of that post-election fall.
The energy equities went the other way. The sector lost 1.94% and cost 0.307 percentage points on the day the barrel settled up 2.73%, and the drag is broad rather than concentrated: Suncor at -4.06% is the largest single piece at 30% of the sector’s contribution, with Enbridge at -1.01%, Canadian Natural at -1.04%, Cenovus at -2.27% and Whitecap at -4.46% behind it, and the uranium-linked names inside the sector, Cameco at -4.22% chief among them, accounting for about 13%. Our read of that decomposition is equity de-risking overriding the barrel rather than a signal about oil.
Crypto hedged nothing. Bitcoin closed at US$75,860.94, or C$106,335.29, down 5.68% on the US dollar series, and Ether at US$2,233.79, down 7.80%. It traded alongside the AI complex rather than against it. Gold was the hedge that worked.
What Friday brings, and what Thursday leaves a Canadian investor with
Statistics Canada publishes the Labour Force Survey for October at 8:30 a.m. ET on Friday November 6, and it is the live one because of the rate question. The Bank of Canada’s overnight rate is 2.5%, hiked from 2.25% at the October 28 decision and unchanged since October 29. One-month CORRA futures settlements on the Montreal Exchange put 10.78 basis points of tightening into the December 9 decision, which works out to a 43% chance of a 25 basis point hike: a hike that is less likely than not. A cluster of Canadian dividend payers also reports Friday, Enbridge, Telus and Emera among them.
Concentration decided Thursday inside the TSX and it will decide Friday too. A 35.69% weight in financials means a 3.20% move in the banks and insurers does more to the index than a 4.28% move in technology ever could. What made Thursday unusual is that the block carrying that weight did not do what it usually does on a bad US day: financials fell almost as hard as technology instead of cushioning while technology took the worst of it. The weighting is permanent and the behaviour was not, which is why the sector that normally limits the damage here is the one to watch rather than the one to assume.
The next real test of the block that did 56% of Thursday’s damage comes the week of December 2, when the Big Six report fiscal fourth quarter results, Bank of Montreal and Scotiabank on December 2, Royal Bank, TD and CIBC on December 3 and National Bank on December 4, from our market calendar built from primary sources. That is the week before the December 9 Bank of Canada decision. Thursday’s 2% fall came on a day when no Canadian bank reported and no Canadian bank news broke.
One last piece of context for anyone who watched this happen to their own holdings. The S&P/TSX Composite is down 0.04% for November month to date on our market close data, so after the largest two-day swing of the month the Canadian index is effectively flat on November.
Tape, oil and single-stock prices are credited to Yahoo Finance trade data. All figures are November 5, 2026 closes unless stated otherwise.
Disclaimer: The content on bestcanadianstocks.ca is for informational and entertainment purposes only and does not constitute financial advice. Past performance is not indicative of future results. Always consult a qualified financial advisor before making investment decisions. Every index level, sector return and single-stock move is a Thursday November 5, 2026 CLOSING figure. This piece replaces the intraday version published on this URL at 3:11 p.m. ET; where it compares the close against that session’s 2:36 p.m. ET decomposition, both readings are labelled with their time. Sector weights and per-name contributions are computed from the iShares S&P/TSX Capped Composite Index ETF holdings file as of November 4, 2026, the fund’s own daily disclosure, with S&P 500 weights taken the same way from the iShares S&P 500 Index ETF look-through; the model covers 99.81% of index weight and reproduces the printed index move at -2.023 percentage points against a printed -2.026%. Contributions are percentage points of the index’s return and are never restated as index level points or as proportions of the day’s decline. The S&P 500 holdings file carries the underlying fund as its own line item and labels that line Financials, which would overstate S&P 500 financials by about 100 percentage points; it is excluded. The names table is a selection of the largest financials and technology contributors rather than a complete ranking of the index’s largest drags, and the caption says so and names the omissions. The US versus Canadian financials comparison and the ten-session median table use exchange-traded funds as sector proxies, not the bottom-up constituent computation used elsewhere, and both captions say so; the ten-session sample is small and the piece says that too. Distance-from-high figures are our own arithmetic on two years of daily closes for the indices and three months for the single names, with highs taken from prior closes only and described as highs of those windows, never as all-time peaks. Celestica’s two-session fall is computed from the closing levels themselves rather than by combining two daily percentages. The VIX claim is scoped to a three-month high and names March 30, 2026 as the last higher close; it is not described as a 12-month or two-year high. The Nasdaq ‘worst since April 2025’ framing is our own arithmetic on three years of closes and is also how CNBC framed the day. Canadian benchmark bond yields come from Bank of Canada Valet series BD.CDN.2YR.DQ.YLD, BD.CDN.5YR.DQ.YLD and BD.CDN.10YR.DQ.YLD; that series lags one day, so the latest reading is Wednesday November 4 and the caption states the date. The WTI price is the NYMEX December 2026 contract settlement-window price, the volume-weighted price of trades from 2:28 to 2:30 p.m. ET, which is the exchange’s own settlement method, computed by us from Yahoo Finance trade data; every crude comparison is on that same contract, so none crosses a roll. Gold is a daily close, described as a close and never as a settlement. No Canadian dollar figure is published: two of our own sources disagreed on the day’s change, so it was omitted. Sun Life’s figures come from the company’s own third quarter earnings release of November 4, 2026, which is linked; the release reports in Canadian dollars and its MFS asset management flows are US dollars inside that document, and the piece labels them as such. Qualcomm’s revenue, earnings per share, handset revenue, fiscal first quarter 2027 guidance and both quotations come from Exhibit 99.1 to the company’s own Form 8-K, which is linked, and are US dollars. Reporting times come from our own market calendar, built from primary sources: Wheaton Precious Metals reported at 4:00 p.m. ET, after the close, so its share move is not presented as a reaction to its results, and the three companies whose flat closes are cited all reported before the open. Gildan, Lightspeed, Bombardier, BCE and Quebecor each have their share move and reporting time given only, with no claim about what any of them reported. The positions of the three governors-elect are attributed reporting rather than our own observation, each is stated to be a campaign pledge with no legal effect, and the two details we could not verify were dropped. The two explanations circulating for the session are given as commentary with no single cause asserted. Aggregators and news outlets are credited in plain text and never linked.
