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5 Things to Know Today: Canada Enters Recession, Oil Slips on Iran Ceasefire Talk

Saturday, May 30, 2026 — Your quick-hit Canadian financial briefing for the day. 1.Canada Officially Meets the Definition of a Technical Recession Statistics Canada confirmed Friday that real GDP contracted 0.1% on an annualized basis in Q1 2026 — following a revised 1.0% drop in Q4 2025 . That's two straight quarters of negative growth, which meets the technical definition of a recession. The miss was a big one: economists had forecast growth of 1.5% . The main culprits were a surge in imports (up 2.9%, largely gold), declining business capital investment (down 0.7% — its fifth consecutive quarterly drop ), and weakness in resource extraction and construction. On a per-capita basis, GDP actually edged up 0.2% as Canada's population shrank for the second quarter in a row. Not everyone is ready to call it a full recession: some economists note that three of the four weak months were isolated, and early April data points to a sharp 0.4% rebound . Still, the numbers ...
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Dow Tumbles Amidst Rising Yields and Global Unrest

 

The Dow Jones Industrial Average faced a significant downturn as geopolitical tensions and a sharp increase in Treasury yields rattled investors. The spike in yields came on the heels of unexpectedly robust retail sales data, which suggested that the Federal Reserve might delay anticipated interest rate cuts. This development has cast a shadow over the recent strong earnings reported by major banks like Goldman Sachs.

The market’s reaction was swift, with the Dow falling 248 points, or 0.7%, while the S&P 500 and NASDAQ Composite also saw declines of 1.2% and 1.8%, respectively. The rise in Treasury yields, particularly the 10-Year Treasury jumping 11 basis points to 4.61%, indicates a shift in investor sentiment towards caution amidst economic growth and potential policy shifts.

As the global financial community monitors the unfolding events, the impact of these tensions and economic indicators will continue to play a critical role in shaping market dynamics in the days ahead.

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