The TSX closed down 0.15% Thursday, a headline figure that conceals sharper moves underneath: energy strength offset weakness in gold miners and banks tied to the Gulf escalation, plus a fourth and unrelated drag from a global semiconductor selloff. Celestica led decliners after a 9.3% drop in the prior session, part of a chip-and-AI-spending pullback that also sent Tokyo shares down more than 5% overnight, a move with no connection to the Middle East conflict.
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