Canada: TSX Slips on High Borrowing Costs and Commodity Weakness.

The S&P/TSX Composite Index lost more than 0.5% to trade below 35,000 on Wednesday amid persistently high borrowing costs and weakness in commodity-linked sectors. Gold prices declined as the dollar strengthened on rising bets for further US rate hikes, pressuring mining stocks. Agnico Eagle and WPM shed nearly 3%, while Barrick fell more than 4%. Oil prices also extended this week’s losses on signs that more tankers are set to leave the Strait of Hormuz, easing concerns over energy-driven inflation but weighing on energy shares. Canadian Natural and Imperial Oil lost more than 2%, while Suncor retreated 2.5% and Cenovus shed about 3%. Major banks traded near the flatline, with RBC, BMO, and TD Bank edging lower. In contrast, Canadian tech stocks rebounded from the prior session’s global selloff, with Shopify gaining nearly 3%, while Celestica and Constellation Software rose around 1%.