Markets drifted lower today as investors stayed cautious ahead of the Federal Reserve’s rate decision and AI-related warnings continued to weigh on sentiment. The TSX fell 0.32% and the TSX Venture Index dropped 0.69%, while U.S. markets softened too, with the Dow down 0.71% and the Nasdaq off 0.10%. The FTSE 100 slipped 0.24% as the cautious mood extended globally.
Oil held above $100 as the 10-year Treasury yield hit its highest level since 2007, with Fed rate hike bets climbing to 93% and the U.S. dollar sitting near a two-week high against major rivals. Gold was roughly flat, down 0.07%, while copper edged up 0.58% and Bitcoin fell 2.15% to just above C$106,000. Domestically, Canadian inflation held steady even as TD and Scotiabank joined a broader spending spree and concerns grew over an apartment glut and stagflation risks.
Market numbers
TSX: Down (-0.32%) 35,587.96
TSXV: Down (-0.69%) 913.48
DOW: Down (-0.71%) 52,080.5
NASDAQ: Down (-0.10%) 29,114.2
FTSE 100: Down (-0.24%) 10,665.55
In the headlines
- AI safety warnings intensify across the industry: OpenAI Chief Sam Altman ruled out a 2026 IPO for OpenAI, the artificial intelligence research company behind ChatGPT, citing mounting risks, a view echoed by Anthropic CEO Dario Amodei and Elon Musk. Palantir Technologies (NYSE:PLTR) and Nvidia (NASDAQ:NVDA) have reportedly curbed use of certain AI models over data concerns, while a former Google DeepMind researcher added to warnings that unchecked AI could pose existential risks to humanity. The mounting chorus of concern is fueling fresh doubts about the pace and safety of AI development.
- Musk again floats a possible SpaceX-Tesla merger: Elon Musk once more raised the possibility of merging SpaceX, his private aerospace company, with Tesla (NASDAQ:TSLA), the electric vehicle and clean energy company he leads. The renewed speculation comes as investors continue to watch Musk’s sprawling business empire for signs of consolidation.
Currencies
USD: Down (-0.06%) $0.7186
GBP: Down (-0.02%) $0.5324
EUR: Down (-0.05%) $0.62254
JPY: Up (+0.35%) ¥111.416
AUD: Up (+0.01%) $1.0075
Bitcoin (BTC/CAD): Down (-2.15%) 106,325.6
(Conversion to C$1)
Commodities
Copper: Up (+0.58%) 6.45226
Gold: Down (-0.07%) 4,295.78
WTI: Up (+1.58%) 102.04
Natural Gas: Up (+1.98%) 2.937
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