AI Sell-Off, Mixed Factor Trends, and Canadian Market Outperformance
March 16, 2026
Global equity markets displayed a shift in leadership dynamics during February. While the previous month was largely driven by Momentum and Volatility factors across most regions, February saw a more mixed factor environment, with performance drivers varying across markets. The period was also marked by a sharp sell-off in AI-related software stocks in the United States at the beginning of the month, which weighed on U.S. equity performance and disrupted the momentum trade. In contrast, Canadian equities emerged as the strongest-performing market among the regions analysed, highlighting the divergence in regional market dynamics during the period.
Crude oil prices continued to rise from the end of February, reaching $95 per barrel by the second week of March. The upward trend began toward the end of February, when prices climbed to around $69 per barrel, marking the start of the rally. Gold prices held steady above $5,180 per ounce in the second week of March, as investors weighed ongoing safe-haven demand against headwinds from a stronger dollar and rising bond yields.
Fill out the form to find out what these trends mean and which sub-factors to watch in our February 2026 Factor Performance Analysis.
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