Markets sold off broadly today as fresh U.S.-Iran strikes sent oil prices surging and investors rushed to reduce risk. The TSX is fell 0.77% and the TSX Venture Index dropped 1.80%, while U.S. markets followed suit with the Dow down 0.58% and the Nasdaq off 1.03% as tech names bore the brunt of the risk-off move. The FTSE 100 slipped 0.25% as the selling pressure extended across the Atlantic.
Oil was the day’s big mover, with WTI jumping 3.42% after new attacks pushed crude back above $100 a barrel, while the 10-year Treasury yield climbed to its highest level since 2023 on renewed inflation worries. Gold slid 0.80% and copper tumbled 4.22% despite the yield backdrop, and Bitcoin eased 1.65% to just above C$106,000. Elsewhere, an EU envoy pointed to a strengthening Canada-EU partnership ahead of a speech from Prime Minister Carney, and Ontario expanded its tariff support program in response to new U.S. trade actions.
Market numbers
TSX: Down (-0.77%) 35,630.52
TSXV: Down (-1.80%) 939.79
DOW: Down (-0.58%) 52,146.3
NASDAQ: Down (-1.03%) 29,099.1
FTSE 100: Down (-0.25%) 10,618.42
In the headlines
- Apple stock slips as foldable and iPhone 18 fail to impress: Apple (NASDAQ:AAPL), the consumer technology giant behind the iPhone and Mac, saw its shares slide after unveiling a $1,999 foldable “Duo” device alongside the iPhone 18, with Wall Street unconvinced the new lineup justifies the price tag. Investors are questioning whether the launch does enough to reignite growth.
- Meta jumps 6% on soaring demand for new AI model Muse: Meta Platforms (NASDAQ:META), the social media and AI company behind Facebook and Instagram, rallied after reporting surging demand for its newest AI model, Muse. The move underscores continued investor appetite for companies at the center of the AI buildout.
- Canada Infrastructure Bank closes financing for Nunavut wind project: The Canada Infrastructure Bank, a federal Crown corporation that funds major infrastructure projects, closed a loan to support a wind power project in Nunavut that will serve a nearby gold mine. The deal highlights growing investment in clean energy to power remote resource operations.
Currencies
USD: Down (-0.12%) $0.7233
GBP: Up (+0.09%) $0.5350
EUR: Up (+0.06%) $0.62307
JPY: Up (+0.24%) ¥111.489
AUD: Up (+0.58%) $1.0096
Bitcoin (BTC/CAD): Down (-1.65%) 106,293.9
(Conversion to C$1)
Commodities
Copper: Down (-4.22%) 6.57452
Gold: Down (-0.80%) 4,366.37
WTI: Up (+3.42%) 98.87
Natural Gas: Down (-0.39%) 2.779
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