The S&P/TSX Composite Index extended its decline to close 1% lower at 33,610 on Thursday as intensifying conflict in the Middle East and persistent domestic inflation pressures drove a broad sell-off across mining and financial sectors. Gold miners faced the brunt of the market retreat with Agnico Eagle and Barrick Gold plummeting 4.7% and 2.9% respectively while metals producers like First Quantum Minerals and HudBay Minerals saw sharper double-digit percentage drops as risk appetite vanished. Financials including Brookfield, TD Bank, BMO and Scotiabank retreated between 1.2% and 1.8% as rising bond yields heightened concerns over credit costs. Energy producers provided a notable counterweight as Canadian Natural Resources and Cenovus Energy gained 2.8% and 2.3% on supply fears. Technology and defensive names offered some stability with Shopify and Constellation Software climbing 4.1% and 5.4% while Alimentacion Couche-Tard and Great West Lifeco also posted gains during the session.