Spring has sprung for Canada’s main stock index, which extended its decline on Friday, with losses spread across most sectors. The market remained on pace for a third consecutive weekly drop as investors stayed cautious and closely tracked developments in the Middle East conflict, now nearing its fourth week. Japanese markets were closed for the Spring Equinox holiday.
US markets also continued to weaken, with major indexes posting another down week as traders focused on the escalating situation involving Iran. According to a report from Axios, the United States is weighing options to either occupy or blockade Iran’s Kharg Island to pressure Tehran into reopening the Strait of Hormuz. This comes as Israel and Iran exchanged additional strikes on Friday. Meanwhile, leading European countries, along with Japan and Canada, released a joint statement expressing readiness to help secure safe passage for vessels moving through the critical waterway, where supply disruptions have driven crude oil and natural gas prices sharply higher.
| TSX | 31,317.41 | -537.57 |  |
| TSXV | 911.53 | -25.04 | |
| CSE | 160.06 | -6.46 | |
| DJIA | 45,577.47 | -443.96 | |
| NASDAQ | 21,647.61 | -443.08 | |
| S&P 500 | 6,506.48 | -100.01 | |
The Canadian dollar traded for 72.88 cents US compared to 72.82 cents US on Thursday.
US crude futures traded US$2.41 higher at US$97.96 a barrel, and the Brent contract rose US$3.41 to US$112.00 a barrel.
The price of gold was down US$99.37 to US$4,502.14.
In world markets, the Nikkei remained at ¥53,372.53, the Hang Seng was down 223.26 points to HK$25,277.32, the FTSE was down 145.17 points to ₤9,918.33, and the DAX was down 459.37 points to €22,380.19.
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