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Open Edition. Wednesday, July 29, 2026

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$44.53
-0.65%

Headline

XEQT slips 0.65% early as a global chip selloff and Fed caution weigh on all four sleeves

XEQT was trading at $44.53, down 0.65% in early going, as all four sleeves moved lower together. The largest drag came from the U.S. sleeve, off 0.58% and contributing roughly 0.26 percentage points of the decline, while Canada's sleeve fell 0.80%, hit by weakness in financials and materials. A sharp AI-valuation-driven selloff in Asian technology markets sent the emerging markets sleeve down 1.54%, with South Korean equities among the hardest-hit tracked markets. Oil's surge of more than 6% on Middle East developments is providing a meaningful offset in Canadian and U.S. energy, and markets are also contending with the Federal Reserve's interest rate decision later in the session.

How large is this morning's move?

Larger-than-usual day · This morning's -0.65% move is 1.3× the 20-day average move.

This scale measures size, not what to do. Larger moves are a normal part of holding a global all-equity fund.

The Regions

  • Canada

    25.74% of XEQT

    • XIC.TO
    -0.80% -0.21 pts from XEQT

    Canada's sleeve was the steepest broad loser in percentage terms among tracked sleeves, falling 0.80%. Financials and materials are both down more than 1.4% among the sectors tracked, accounting for most of the sleeve's early weakness. Energy, up nearly 3% and consistent with WTI crude's more than 6% surge, is providing a meaningful partial offset within the sleeve.

    Canada market region icon

  • United States

    45.06% of XEQT

    • XTOT.TO
    • ITOT
    -0.58% -0.26 pts from XEQT

    Wall Street opened lower, with the U.S. sleeve down 0.58% and contributing the largest absolute drag on XEQT. Industrials fell 1.58% and financials 0.77% among the sectors tracked, outweighing modest gains in energy, health care, and consumer staples. Technology slipped 0.65%, a contained move relative to the broader chip rout in Asia, as markets awaited the Fed's rate verdict.

    United States market region icon

  • Intl Developed

    24.41% of XEQT

    • XEF.TO
    -0.58% -0.14 pts from XEQT

    The international developed sleeve fell 0.58%, though the picture was uneven across the markets tracked. Spain declined more than 1%, weighed down by banks and rising oil costs, while France and the Netherlands also fell. The UK proved a notable exception: its large-cap index climbed in early trading, supported by miners and energy stocks, with its low technology exposure shielding it from the global chip pressure. Japan was nearly flat, and Germany also held close to unchanged.

    Intl Developed market region icon

  • Emerging Mrkts

    4.59% of XEQT

    • XEC.TO
    -1.54% -0.07 pts from XEQT

    Emerging markets carried the steepest sleeve-level loss at 1.54%, driven by an AI-valuation selloff concentrated in Taiwan and South Korea. Taiwan-listed technology equities fell sharply, with the benchmark index dropping below 40,000 points on concerns over AI spending; South Korea's regulator convened an emergency meeting after the KOSPI extended its recent losses into a second session. China-related equities rose 1.22% among tracked markets, providing a partial cushion that kept the sleeve's contribution to just -0.07 percentage points on XEQT.

    Emerging Markets market region icon

Colored bars represent biggest contributors to XEQT's move this morning (threshold = ±0.1 percentage points). Returns are daily ETF price moves for tracked regional or sector categories and may differ slightly from raw index movements.

The Hold Line

A broad early decline of this magnitude sits just above the recent average daily move, so the session is notable but not exceptional. The sharpest pressure is concentrated in semiconductor-heavy emerging markets, which together make up less than 5% of XEQT, limiting the direct damage to the fund. Energy's powerful counterweight across both the Canadian and U.S. sleeves is doing real work today, partially cushioning what would otherwise be a steeper drawdown.

Signals

  • 01

    Oil surge cushions equity losses

    WTI crude oil, which measures the price of U.S. benchmark barrels, is up more than 6% early in the session on Middle East developments. This is lifting Canadian energy by nearly 3% and U.S. energy by more than 2% among the sectors tracked, acting as a meaningful buffer that partially offsets broader equity weakness across both sleeves.

  • 02

    EM chip rout deepens into second day

    South Korea's regulator called an emergency market meeting after the KOSPI extended its AI-driven selloff into a second consecutive session, with Taiwan technology equities also under significant pressure. Both markets are substantial parts of the emerging markets sleeve, yet their combined weight within XEQT is modest, which is limiting the fund-level impact of a historic regional rout.

  • 03

    Fed day rotation hits cyclicals early

    With the Federal Reserve's interest rate decision due later today, U.S. industrials and financials are among the weakest sectors tracked so far, while defensives like health care and consumer staples are holding small gains. This rotation within the U.S. sleeve, the largest in XEQT at 45%, reflects a cautious positioning that a long-term holder can observe without acting on before the decision lands.

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Jul 2 to Jul 29 · $45.12 → $44.53

-1.31%