FX.co ★ TSX Futures Slip on Chip Selloff and Oil Spike

Futures tracking the S&P/TSX Composite Index slipped on Friday, pressured by a global selloff in semiconductor stocks and elevated oil prices amid the escalating US-Iran conflict. North American technology shares dropped sharply as investors cut exposure to crowded semiconductor trades on renewed concerns about the sustainability of AI-related spending. At the same time, the US and Iran stepped up attacks across the Gulf, and the breakdown of their truce disrupted oil flows through the Strait of Hormuz. The conflict drove oil prices higher, heightening inflation worries and weighing on financials and the broader equity market. Gold prices also moved lower and were on track for a weekly decline, adding further pressure to mining stocks.