The S&P/TSX Composite Index dropped 0.8% to close at 36,554 on Friday as mining and energy shares declined. Gold prices fell after hawkish commentary from Federal Reserve Chair Kevin Warsh strengthened expectations for a rate hike next month, pressuring Agnico Eagle, Barrick, WPM and Kinross. Oil prices also weakened after flows through the Strait of Hormuz increased and Iran and Oman agreed on a revenue-sharing framework for the waterway. AI-infrastructure stocks followed losses among U.S. chipmakers, while financials and the wider market were supported by Canada’s 3.3% GDP growth in the second quarter, its strongest pace in nearly two years.