Canadian Stocks Slide Amid AI Tech Sell-Off and Geopolitical Tension

Canadian stocks are projected to open lower on Friday, July 17, 2026, as markets react to a global sell-off in technology stocks and heightened investor anxiety regarding the U.S.-Iran conflict. The S&P/TSX Composite Index most recently closed at 35,340.15, marking a decline of 76.05 points. The downturn is largely attributed to growing concerns over artificial intelligence valuations across global markets.

In corporate developments, Brookfield Corporation and Brookfield Wealth Solutions Ltd. announced that shareholders have approved a merger. This move will consolidate the two entities into a single publicly listed parent company to simplify the corporate structure.

Separately, Lundin Mining Corporation issued its second-quarter outlook. The company expects a pre-tax benefit of approximately $79 million resulting from pricing adjustments on molybdenum and copper, though this gain is partially offset by $12 million in realized losses on gold collar contracts.