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Weekly Market Snapshot: TSX Hits Record High, Then Retreats as Fed Shocks Markets

  Week of June 16–20, 2026  |  Published June 20, 2026 It was a week of records and reversals for Canadian investors. The TSX touched an all-time high midweek before a hawkish surprise from the U.S. Federal Reserve and falling oil prices — triggered by the U.S.–Iran interim peace deal — pulled markets lower into Thursday's close. Here's everything that moved the needle for your portfolio and wallet this week. 📊 Weekly Market Scorecard Index / Asset Level (June 19 Close) Week Change S&P/TSX Composite 34,857 ▼ Mixed (high: 35,629 Wed.) S&P 500 (USD) 7,500.58 ▲ +1.08% (Wed.) Dow Jones (USD) 51,564.70 ▲ +0.14% (Wed.) Nasdaq (USD) 26,517.93 ▲ +1.91% (Wed.) WTI Crude Oil (USD/barrel) ~$76.54 ▼ Sharp weekly decline Gold (USD/oz) ~$4,157 ▼ Fell on hawkish Fed CAD/USD (Loonie) ~$0.7068 ▼ Under pressure Note: U.S. markets were closed Friday, June 20, for the Juneteenth National Independence Day holiday. TSX figures reflect Thursday's close. 🇨🇦 TSX: A Record High That Did...
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Global Outage Sends Markets Tumbling: S&P/TSX and U.S. Indices Drop


The S&P/TSX composite index closed lower on Friday, reflecting a broader downturn in global markets. The index fell by 36.37 points to settle at 22,690.39. This decline was part of a larger trend, as U.S. markets also experienced significant losses.

The downturn was largely attributed to a global outage caused by a faulty software update from CrowdStrike, which affected numerous companies and organizations worldwide. In the U.S., the Dow Jones Industrial Average dropped 377.49 points to 40,287.53, while the S&P 500 and Nasdaq composite indices fell by 39.59 points and 144.28 points, respectively.

The Canadian dollar also saw a slight decrease, trading at 72.85 cents U.S., down from 73.01 cents U.S. on Thursday. Commodity markets were not spared, with crude oil prices dropping by $2.66 to $78.64 per barrel, and gold prices falling by $57.30 to $2,399.10 an ounce.

This market reaction underscores the interconnected nature of global financial systems and the widespread impact that technological disruptions can have on economic stability.


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