The TSX is down 1.87%, while the TSX Venture Index is sharply lower by 3.47%, as Canadian markets slide amid a fresh spike in oil prices and rising inflation concerns tied to the Iran conflict. U.S. equities are also under pressure, with the Dow down 0.42% and the Nasdaq off 0.91% as investors react to crude oil surging above US$90 and renewed fears that elevated energy costs could delay interest‑rate cuts. London’s FTSE 100 is down 1.76%, reflecting broad global risk aversion.
Commodities are driving the macro narrative. Gold plunged more than 5% as traders rushed to raise cash despite geopolitical tensions, while copper fell sharply on growth concerns. Oil remains extremely volatile, holding above US$93 after a powerful surge driven by Iranian strikes on Gulf energy infrastructure. Natural gas moved higher, while Bitcoin slid nearly 3% in Canadian‑dollar terms as crypto markets softened alongside broader risk assets.
Market numbers
TSX: Down (‑1.87%), 32,312.67
TSXV: Down (‑3.47%), 976.02
DOW: Down (‑0.42%), 45,890.5
NASDAQ: Down (‑0.91%), 24,174.2
FTSE 100: Down (‑1.76%), 10,047.00
In the headlines
- Meta pulls the plug on metaverse spending: Meta Platforms (TSX:META) — the social‑media and advertising giant behind Facebook, Instagram, and WhatsApp — is drawing a line under its costly metaverse push, abandoning roughly $80 billion in spending tied to virtual‑reality ambitions. Shares were steady as investors welcomed tighter capital discipline and a renewed focus on core advertising and AI infrastructure.
- Uber to invest US$1.25B in Rivian robotaxis: Uber Technologies (TSX:UBER) — the global ride‑hailing and mobility platform — plans to invest up to US$1.25 billion in electric‑vehicle maker Rivian as part of a long‑term robotaxi partnership. The deal deepens Uber’s bet on autonomous transport while giving Rivian a major commercial use case for its EV platform.
Currencies
USD: Down (‑0.04%), $0.7280
GBP: Down (‑0.27%), $0.5476
EUR: Down (‑0.24%), $0.63440
JPY: Down (‑0.77%), ¥115.548
AUD: Up (+0.28%), $1.0384
Bitcoin (BTC/CAD): Down (‑2.72%), 95,213.4
(Conversion to C$1)
Commodities
Copper: Down (‑1.82%), 5.39353
Gold: Down (‑5.19%), 4,569.15
WTI: Down (‑0.32%), 93.00
Natural Gas: Up (+1.70%), 3.238
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