S&P/TSX Composite Index Down 1.4% as Treasury Yields, Oil Prices Climb
MT newswire2026/10/07 14:2610:26 AM EDT, 10/07/2026 (MT Newswires) -- The S&P/TSX Composite Index tumbled mid-morning Wednesday as Treasury yields and oil prices rose. The US 10-year bond yield rose near 6 basis points to 5.328%, the highest level since early 2002. 30-year bond yields climbed 7 basis points to the highest level in 24 years, to 5.71%. Oil prices were also higher on mounting concerns that Saudi Arabia would be dragged deeper into a conflict with Iran-backed Houthis as the rebel army escalated attacks against the kingdom's vital infrastructure, several media outlets reported. The base metals sector was the weakest performer on last look, down 2.8% as gold and precious metals prices fell. The financials sector was the also lower, shedding 1.7%. Healthcare was the strongest performer mid-morning, climbing 1.2%. In stocks, Algoma Central (ALC.TO) jumped 9% to a record high of CA$26.25 after it hiked its regular quarterly dividend by 48% to CA$0.31 per share, from CA$0.21 per share. The board also declared a special dividend of CA$1.00 per share.
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