Canadian stocks suffered their worst rout in nearly a month on Tuesday, with the S&P/TSX Composite Index tumbling 1.2% and erasing all gains since early August. The selloff was driven by escalating tensions in the Middle East, inflation worries, and a decline in high-flying technology and financial companies. Shopify Inc. clipped the most points off the composite as the tech darling fell 4.7%.

Major banks and gold miners also declined amid the broader market pressure. The downturn marks a significant reversal for the Canadian market following its summer rally.