The S&P/TSX Composite Index fell 1.2% to close at 24,768 on Friday, adding to a sharp weekly decline of approximately 3.6% as credit-sensitive equities slumped amid expectations of prolonged high borrowing costs in the U.S. A stronger-than-expected U.S. jobs report underscored the resilience of the labor market, bolstering the Federal Reserve's cautious approach to rate cuts. Financial heavyweights led the losses, with RBC (-2%), Brookfield (-5.7%), CIBC (-2.2%), and Manulife (-2.6%) declining significantly. Tech leaders also struggled, with Shopify and Constellation Software falling 3.7% and 1%, respectively. On the domestic front, Canada added 91,000 jobs (+0.4%) in December, while the unemployment rate edged down by 0.1 percentage points to 6.7%.