Canadian Stocks Tumble As Falling Metal Prices, Hot Inflation Data Trigger Sell-off

(RTTNews) - The Canadian market is down sharply on Tuesday after data showing a bigger than expected increase in the nation's consumer price inflation in the month of September curbed bets on an interest rate cut by the Bank of Canada next week.

A sell-off in mining stocks after gold prices fell amid easing U.S.-China trade tensions is weighing as well on the market.

The benchmark S&P/TSX Composite Index was down 491.35 points or about 1.6% at 29,925.09 about half an hour past noon.

The Materials Capped Index is down as much as 7.7% with stocks plunging sharply as gold futures tumbled by over 5% and silver futures crashed by about 6.8%.

Lundin Gold is plunging more than 16%. Discovery Silver Corp, Aya Gold & Silver, Ngex Minerals, Perpetua Resources Corp., Orla Mining, Endeavour Silver Corp, Skeena Resources, Iamgold Corp, Swabridge Gold and Kinross Gold are down 11 to 14.4%.

Several other stocks, including Eldorado Gold, Alamos Gold, Torex Gold Resources, B2Gold Corp, Wheaton Precious Metals and Ssr Mining are also down with big losses.

Technology stocks Bitfarms, Celestica and Dye & Durham are down 3.2 to 4%. Constellation Software, Sylogist, Firan Technology Group and Shopify are also notably lower.

Data from Statistics Canada showed the annual inflation rate in Canada rose to 2.4% in September from 1.9% in the previous month. Canada's CPI edged up 0.1% month-on-month in September 2025, rebounding from a 0.1% decline in August.

Canada's annual core inflation, which excludes eight of the most volatile components such as food, energy, and mortgage interest costs, accelerated to 2.8% in September from 2.6% in August. On a monthly basis, core consumer prices rose 0.2% after remaining unchanged in the previous month.