Major Indexes Drift Lower Amid Ongoing Market Volatility
The Canadian Vanguard Stock Market Report – Tuesday March 10, 2026 Edition.
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The Toronto Market
The Toronto Market Index
The S&P/TSX Composite Index rose 81.33 points, or 0.25%, to close at 33,270.65. The index started strong but weakened later in the session, as the ongoing conflict in the Middle East and the resulting volatility in oil prices continued to affect the market.
Market movements today were largely driven by news related to oil prices. The market opened higher following reports indicating that shipping through the Strait of Hormuz would resume. However, the report was later corrected, and oil prices subsequently fell by more than 200 points.
Despite the volatility, the index has now recorded gains in two consecutive sessions.
Today’s TSX Market Statistics
At the TSX, advancing issues (advancers) outnumbered declining issues (decliners). Specifically, there were 1,270 advancers and 860 decliners, producing an advancer-to-decliner ratio of 1.47 to 1, or roughly three advancers for every two decliners. A total of 148 issues remained unchanged.
The exchange recorded 35 new 52-week highs and 15 new 52-week lows, compared with 47 new highs and 61 new lows in the previous session.
Total trading volume on the TSX reached 537,266,273 shares, down 20% from the 669,185,299 shares traded yesterday.
Today’s Toronto Market Wrap-Up Report
The S&P/TSX Composite Index rose 81.33 points, or 0.25%, to close at 33,270.65, marking its second consecutive session of gains. However, trading remained volatile as investors reacted to developments related to the ongoing conflict in the Middle East and the resulting fluctuations in oil prices.
Market activity throughout the day was largely news-driven. Early in the session, the market opened higher after reports suggested that shipping through the Strait of Hormuz would resume. When the report was later corrected, oil prices fell sharply, creating additional volatility across energy-related stocks and the broader market.
Only four of the ten major sectors finished the session in positive territory. Basic Materials, up 1.61%, and Financials, up 0.81%, were the leading sectors. Consumer Discretionary and Telecommunications Services were the other sectors to post gains. Oil prices declined during the session, which weighed on the Energy sector. Industrials, down 1.2%, and Technology, down 2.57%, were the weakest-performing sectors of the day.
Precious metals also influenced market activity. Gold and silver prices had been under pressure for most of last week, but gold rebounded today, helping to support the TSX index. Several gold mining stocks posted gains, although volatility remained high and some mining shares ended the day lower.
In company news, MDA Space (TSX: MDA) announced the launch of a marketed public offering in the United States. The company said approximately US$300 million worth of its shares will be offered through a syndicate of underwriters. MDA Space is currently listed on the TSX and is seeking to expand its presence in the U.S. capital markets. The stock rose 5.7% during the session.
Meanwhile, the National Research Council of Canada announced plans to expand domestic capacity in drone and aerospace technologies. The agency said it intends to create a drone innovation hub and will purchase a long-range business jet, the Bombardier Global 6500, as part of its defense technology development program. Shares of Bombardier Inc. (TSX: BBD.B) rose 2.81% during the session. Bombardier was one of last year’s top performers, with its stock price doubling between June and December.
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The US Markets
U.S. Market Indexes
U.S. equity markets were mixed at the close of today’s session as investors reacted to news-driven volatility tied to oil prices and developments related to the ongoing conflict involving the United States and Iran.
The Dow Jones Industrial Average slipped 34.29 points, or 0.07%, to close at 47,706.51. The S&P 500 declined 14.51 points, or 0.21%, ending the session at 6,781.48. Meanwhile, the Nasdaq Composite edged up 1.16 points, or 0.01%, to finish at 22,697.10.
The Russell 2000 Index, which tracks small-cap companies, fell 5.59 points, or 0.22%, to close at 2,548.08. The index had been up about 1% earlier in the afternoon but reversed course during the final hour of trading after reports indicated that shipping activity had not resumed in the Strait of Hormuz.
Today’s Market Statistics
New York Stock Exchange (NYSE): Declining issues (decliners) outnumbered advancing issues (advancers) on the New York Stock Exchange. Specifically, there were 1,464 decliners compared with 1,294 advancers, while 83 issues remained unchanged. This produced a decliner-to-advancer ratio of approximately 1.13 to 1, or about one decliner for every advancer.
The exchange recorded 36 new 52-week highs and 38 new 52-week lows, compared with 53 new highs and 122 new lows in the previous session.
Total trading volume on the NYSE reached 6,043,370,890 shares, down 12% from the 6,825,140,971 shares traded yesterday.
NASDAQ: On the NASDAQ, declining stocks slightly outnumbered advancing stocks. There were 2,549 decliners and 2,310 advancers, while 192 issues were unchanged, producing a decliner-to-advancer ratio of about 1.10 to 1.
The exchange posted 80 new 52-week highs and 118 new 52-week lows, compared with 73 new highs and 283 new lows in the previous session.
Total NASDAQ trading volume reached 10,028,395,756 shares, about 5% higher than the 9,537,799,150 shares traded on Friday.
Market Wrap-Up Report
Tuesday’s market session was dominated by news and reports related to the ongoing conflict in the Middle East. Market sentiment throughout the day was largely driven by developments affecting oil prices and shipping activity in the Strait of Hormuz.
Early reports suggested that commercial shipping traffic through the Strait of Hormuz was being escorted by the U.S. military. This news initially boosted investor confidence and lifted the major market indexes during the morning session. However, those reports were later corrected, indicating that no shipping traffic was moving through the strait.
Following the correction, oil prices quickly declined, contributing to increased volatility across equity markets. Although U.S. crude oil prices remain higher than levels seen prior to the conflict, they retreated during the session to around $84 per barrel. As oil prices fell, the major market indexes gave up their earlier gains and weakened toward the close.
Among the major sectors, Basic Materials led the market, followed by Telecommunications Services, with Financials also posting gains. The Energy sector was the weakest performer as oil prices declined sharply during the final hour of trading. Overall, only three of the eleven major sectors finished the session in positive territory, making it a generally negative day for the broader market.
Given the continued uncertainty surrounding developments in the Middle East, market volatility is likely to persist in the near term as investors react to geopolitical news and fluctuations in energy prices.
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(c) This article is published by The Canadian Vanguard on March 10, 2026
