The TSX is down 1.57%, while the TSX Venture Index is lower by 0.29%, as Canadian stocks extend steep losses amid an historic spike in oil prices and mounting worries about the Iran war and its impact on inflation. In the U.S., the Dow is down 0.93% and the FTSE 100 is off 1.18%, while the Nasdaq is actually up 0.85% as traders bargain‑hunt in select tech after a brutal selloff driven by surging crude and talk of a higher probability of a U.S. market “meltdown.” Bond yields have climbed as well, reflecting a global reassessment of rate‑cut expectations.
Commodity markets remain at the centre of the story. U.S. crude is up more than 12% this session after an extraordinary intraday surge that briefly pushed prices toward US$120 before retreating, while gold is down nearly 1.5% despite ongoing safe‑haven demand as some Middle East‑linked supply remains stuck and even discounted. Copper is modestly weaker and natural gas has slumped more than 6%. Bitcoin is bucking the broader risk‑off trade, gaining almost 4% in Canadian‑dollar terms as some investors treat crypto as a partial hedge against energy shocks and geopolitical turmoil.
Market numbers
TSX: Down (‑1.57%), 33,083.72
TSXV: Down (‑0.29%), 1,057.04
DOW: Down (‑0.93%), 47,015.5
NASDAQ: Up (+0.85%), 24,392.9
FTSE 100: Down (‑1.18%), 10,187.66
In the headlines
- OpenAI executive exits after Pentagon deal: OpenAI — the artificial‑intelligence research company behind ChatGPT and a growing suite of AI models — saw its head of robotics resign following controversy over a defense‑related collaboration with the U.S. Pentagon. The departure underscores ongoing tension over how aggressively AI firms should pursue military and national‑security work.
- Live Nation settles US antitrust case, keeps Ticketmaster: Live Nation Entertainment (NYSE:LYV) — the global concert promoter and owner of Ticketmaster — has reportedly reached a settlement in a U.S. antitrust case that allows it to retain Ticketmaster. According to early reports, the deal is expected to impose behavioural remedies while avoiding a forced breakup of the live‑events and ticketing giant.
Currencies
USD: Up (+0.04%), $0.7372
GBP: Up (+0.35%), $0.5512
EUR: Up (+0.42%), $0.63725
JPY: Up (+0.39%), ¥116.803
AUD: Up (+0.11%), $1.0497
Bitcoin (BTC/CAD): Up (+3.77%), 93,262.5
(Conversion to C$1)
Commodities
Copper: Down (‑0.72%), 5.80253
Gold: Down (‑1.47%), 5,095.83
WTI: Up (+12.27%), 91.50
Natural Gas: Down (‑6.34%), 3.252
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