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Stocks Pull Back as Oil Climbs on Iran Tensions — June 4, 2026

Global equity markets are under pressure on Thursday as the Iran conflict continues to dominate headlines, with fresh hostilities pushing oil prices higher and dragging on stocks from Toronto to Tokyo. Canada's TSX is extending its pullback for a second day, Wall Street closed sharply lower on Wednesday, and the Nikkei retreated from its record-high close overnight. The throughline is the same: an unresolved Middle East conflict, elevated energy costs, and growing caution after a prolonged rally. 🇨🇦 Canada: TSX Extends Losses The S&P/TSX Composite closed Wednesday (June 3) at 34,801, down 367 points or 1.05% — retreating from the record high reached on Tuesday. The selloff was broad: financials fell, with BMO down 1.5% and Brookfield losing 3.4% after announcing a joint venture with Concert Properties. Mining heavyweights were hit as gold prices declined, with Agnico Eagle off 3.6%, Barrick down 2.5%, and WPM shedding 3.5%. Technology names tracked Wall Street lower, with Sho...
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Missile Barrage Strikes Northern Israel: Emergency Services Respond to Escalating Tensions

 

Israeli emergency services reported dealing with a string of fires in northern Israel on Friday after dozens of missiles were fired from southern Lebanon into the area around the border town of Kiryat Shemona. The military confirmed that warning sirens had sounded in northern Israel, and emergency services teams were dispatched to search the affected area. Fortunately, there were no casualties reported, but property damage occurred.

Television footage showed damaged buildings, cars, and brush fires caused by strikes or falling debris amid heatwave conditions. The Israeli military has been engaged in regular exchanges of fire with Hezbollah forces across the border in southern Lebanon since the start of the war in Gaza last October. While neither side appears to desire a wider conflict, the escalating strikes raise concerns about the situation spiraling out of control.

The latest salvo followed an Israeli strike that killed a senior commander from the Iranian-backed Hezbollah militia in southern Lebanon earlier this week. Tens of thousands of residents have been evacuated from their homes on both sides of the border, putting pressure on diplomatic efforts to resolve the stand-off.

On Friday, the Israeli Air Force intercepted 11 out of 16 drones launched by Hezbollah against Israel in the past 72 hours. The situation remains tense, with the risk of further escalation in a region that has already witnessed direct exchanges between Israel and Iran.


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