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5 Things to Know Today — June 21, 2026

  Whether you're starting your week or wrapping up your weekend, here are the five Canadian money stories shaping your financial picture right now. 1 Canada Is Technically in a Recession — And the Political Fight Is On Canada's GDP contracted 0.1% on an annualized basis in Q1 2026, following a 1% decline in Q4 2025 — two consecutive quarters of negative growth that meet the textbook definition of a technical recession. Prime Minister Mark Carney has called it a "settling-in period" tied to his government's restructuring of the economy in response to the U.S. trade war. Conservative Leader Pierre Poilievre has been relentless in his counter-offensive, pointing to rising insolvencies, job losses and food bank usage as proof that the downturn is real, not technical. Many economists, including BMO's chief economist Douglas Porter, have noted that a future revision to Statistics Canada's data could erase the slim 0.1% contraction — meaning this may not ultimate...
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Global IT Outage Sends Dow Futures Tumbling

                                             

The stock market faced turbulence today as Dow futures slipped following a massive global IT outage. This unprecedented disruption affected various sectors, including travel, finance, and healthcare, causing significant operational challenges worldwide.

The Dow Jones Industrial Average futures fell by 0.2%, reflecting investor concerns over the outage’s impact. The S&P 500 futures saw a slight increase of 0.1%, while the tech-heavy Nasdaq 100 futures edged up by 0.2%.

The outage, linked to a botched update from cybersecurity firm CrowdStrike, led to widespread disruptions. Flights were grounded, banks experienced service interruptions, and media companies faced broadcasting issues. Although CrowdStrike has implemented a fix, the fallout continues to affect global markets.

Investors are now closely monitoring the situation, hoping for stability as the fix takes effect. The market’s reaction underscores the vulnerability of global systems to IT disruptions and the far-reaching consequences of such events.


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