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Markets Update — Friday, June 26, 2026: Global Tech Sell-Off Rattles Markets as TSX Holds Firm

  Friday, June 26, 2026 — Reporting on confirmed June 25 closing data. Asian and European figures reflect Friday session activity. 🇨🇦 Canada — TSX The S&P/TSX Composite Index closed Thursday at 34,850 , up 0.3% on the day — a relatively resilient showing while Wall Street struggled with a tech-driven selloff. Gains in the financial and mining sectors carried the index. The big Canadian banks were a bright spot: TD Bank added 0.9%, Royal Bank gained 0.4%, and BMO rose 0.9%. On the mining side, Agnico Eagle gained 1.7% as gold prices held near the $4,000 level. Technology names were the drag. Shopify fell 2.6%, Constellation Software lost 3.6%, and Celestica shed 0.7%, tracking the broader global selloff in tech stocks. Still, with Canadian tech making up a far smaller portion of the TSX than it does on U.S. indices, the damage was contained. Investors also parsed Thursday's Bank of Canada Summary of Deliberations, which confirmed policymakers are keeping monetary policy flexi...
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Trump Faces $350 Million Judgment in Civil Fraud Trial

 


In a significant legal development, Donald Trump has been slapped with a $350 million judgment by a New York State Supreme Court judge. The ruling comes after a 2½-month trial that exposed what the judge deemed a years-long scheme orchestrated by Trump to deceive banks and others through inflated financial statements. Here are the key details:
  1. Verdict: The judge ruled against Trump, imposing a $364 million penalty for fraudulent business practices in the state of New York.
  2. Deceptive Practices: Trump’s wealth, fame, and the White House were built on a multinational collection of properties, including skyscrapers and golf courses. However, the court found that his success was not just a result of harmless bragging but rather a pattern of deceptive practices.
  3. Three-Year Ban: In addition to the hefty fine, Trump has been barred from serving as an officer or director of any New York corporation for three years.
  4. Appeal: Trump’s legal team has already indicated their intention to appeal the decision.

This landmark judgment is a victory for New York Attorney General Letitia James, who filed the lawsuit against Trump. The former president’s legal battles continue, and the repercussions of this ruling are likely to reverberate in both legal and political circles.


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