Canada’s top stock index declined on Tuesday, led by losses in the technology sector, as investors assessed the prolonged deadlock in the Iran conflict and growing doubts about whether heavy AI spending can deliver durable returns for tech companies. The energy market was unphazed by news that the United Arab Emirates will withdraw from the Organization of the Petroleum Exporting Countries effective May 1, marking one of the most consequential shifts in the global oil landscape in years.
US markets also ended lower pressured by a report highlighting potential weakness at OpenAI alongside rising oil prices. According to The Wall Street Journal, OpenAI’s recent revenue growth and new user additions fell short of internal projections. The report said CFO Sarah Friar warned executives that, without faster top-line growth, the company could struggle to meet future computing contract obligations. The news weighed broadly on technology shares.
| TSX | 33,584.34 | -233.85 |  |
| TSXV | 995.76 | -24.53 | |
| CSE | 185.22 | -1.04 | |
| DJIA | 49,141.93 | -25.86 | |
| NASDAQ | 24,663.80 | -223.30 | |
| S&P 500 | 7,138.80 | -35.11 | |
The Canadian dollar traded for 73.06 cents US compared to 73.34 cents US on Monday.
US crude futures traded US$3.66 higher at US$100.00 a barrel, and the Brent contract rose US$2.64 to US$110.90 a barrel.
The price of gold was down US$83.98 to US$4,595.59.
In world markets, the Nikkei was down 619.90 points to ¥59,917.46, the Hang Seng was down 245.87 points to HK$25,679.78, the FTSE was up 10.02 points to ₤10,331.11, and the DAX was down 65.27 points to €24,018.26.