TSX down more than 50 points despite commodity gains, while U.S. markets slide

Canada’s main stock index, the S&P/TSX composite, closed lower on August 17, 2026, despite gains in commodity prices, while U.S. markets experienced declines. The decline in the Canadian index was primarily due to broader market losses outweighing the positive impact from higher commodity prices.

Étienne Bergeron, an economist at iA Financial Group, suggested that energy prices, particularly oil, played a significant role in the TSX’s performance. The September crude oil contract reached $84.50 per barrel, while the December gold contract increased by $36.40 to $4,473.70 an ounce.

U.S. markets, on the other hand, saw a slide, with the Dow Jones Industrial Average falling 272.63 points to 53,459.78, the S&P 500 index dropping 40.70 points to 7,745.06, and the Nasdaq Composite losing 84.25 points to 26,644.91.

The Canadian Dollar traded at 72.12 cents US against the US Dollar, a slight increase from the previous day’s 72.07 cents US. The report also highlighted that Canada is facing a potential 50% tariff from the U.S. on various goods, which is expected to take effect on Wednesday. However, the market seems to be ignoring this deadline, considering its impact is mostly sectoral and geographical.