Canadian Stocks Drop on Metal and Oil Price Declines (TSX: -1.8%, S&P/TSX Composite: -1.6% on 02-06-2026)

Canadian equities fell on February 6, 2026, as weakness in metals and oil prices weighed on the market. The TSX Composite closed -1.8%, with miners and energy sector indices leading declines. The S&P/TSX Composite fell -1.6%. The Bank of Canada's recent pause in policy rate hikes was seen as insufficient to offset falling commodity prices, which hit a two-year low in late January. Goldman Sachs and Scotiabank analysts noted that lower prices reduced near-term earnings outlooks for resource companies, contributing to broader sector weakness.