Canada’s main stock index sank on Tuesday as a global selloff in equities intensified, driven by escalating conflict in the Middle East and a stronger US dollar that weighed on precious‑metal prices. At one point in early trading, the TSX was down more than 1,000 points. Prime Minister Mark Carney arrived in Australia the same day as part of a broader effort to expand the country’s trade partnerships beyond the United States. His multi‑stop tour of the Asia‑Pacific region also includes visits to Japan and India.
In the US, markets fell sharply, erasing Monday’s rebound in equities, as another surge in oil prices heightened concerns that the US‑Iran conflict may last longer than expected. According to Iranian media cited by Reuters, a senior commander of the Islamic Revolutionary Guard declared the Strait of Hormuz — the world’s most critical oil‑shipping lane — closed, adding that Iran would set fire to any vessels attempting passage. Meanwhile, US President Donald Trump warned that the confrontation could continue for more than four weeks.
| TSX | 33,784.94 | -756.33 |  |
| TSXV | 1,076.23 | -41.37 | |
| CSE | 176.17 | -1.84 | |
| DJIA | 48,501.27 | -403.51 | |
| NASDAQ | 22,516.69 | -232.17 | |
| S&P 500 | 6,816.63 | -64.99 | |
The Canadian dollar traded for 73.17 cents US compared to 73.15 cents US on Monday.
US crude futures traded US$3.12 higher at US$74.35 a barrel, and the Brent contract rose US$3.35 to US$80.95 a barrel.
The price of gold was down US$198.59 to US$5,098.34.
In world markets, the Nikkei was down 1,778.19 points to ¥56,279.05, the Hang Seng was down 291.77 points to HK$25,768.08, the FTSE was down 295.98 points to ₤10,484.13, and the DAX was down 847.35 points to €23,790.65.
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