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Kospi Plunges 5%, Oil Near $106 as TSX Reopens | Daily Markets Update Oct 13

  Canadian Money Brief • Daily Markets Update • Tuesday, October 13, 2026 Good morning. Canadians return from the long weekend to a lot of catching up. Asia's chip stocks were hammered overnight, oil is hovering near US$106 a barrel, and the loonie is sitting near its weakest level in 18 months. The TSX reopens today after Thanksgiving, and Wall Street's big banks kick off earnings season ahead of tomorrow's US inflation report. The Big Three Today 1. Kospi crashes 5.46% to 6,035 on a global chip and AI selloff 2. Brent settles at US$106.65, its highest close since Sept. 15, on attacks on Saudi Arabia 3. TSX reopens after Friday's 519-point jump on a shock jobs report; USD/CAD near 1.43 Canada: TSX Reopens After a Jobs Shock The Toronto Stock Exchange was closed Monday for Thanksgiving, so Friday's session is still the latest close, and it was a big one. The S&P/TSX Composite jumped 519.24 points (+1.48%) to 35,664.62 after Statistics Canada reported that t...
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Severe Storm Triggers Flooding and Transit Disruptions in Toronto

 

 A powerful storm system has unleashed heavy rainfall across the Greater Toronto Area (GTA), leading to widespread flooding on roadways and affecting transit services. Environment Canada issued a rainfall warning for the city, with a risk of thunderstorms throughout Tuesday afternoon and evening. Here are the key details:

  • Rainfall Warning: Up to 110 millimeters of rain is expected to fall on Tuesday, with rates of 40 mm/h possible at certain points. The intense downpours can cause flash floods and water pooling on roads. Localized flooding in low-lying areas is also possible. Residents are advised to watch for washouts near rivers, creeks, and culverts.

  • Flood Warning: The Toronto and Region Conservation Authority (TRCA) issued a flood warning due to hazardous conditions near bodies of water. Slippery and unstable river banks pose risks, and all shorelines, rivers, and streams in the GTA should be considered dangerous. Erosion and rapidly changing water levels are expected.

  • Transit Disruptions: The Toronto Transit Commission (TTC) and GO Transit have been impacted. TTC Line 1 trains are not stopping at St. Patrick, Lawrence, and Union stations, while Line 2 trains are bypassing Pape station. GO Transit’s Kitchener line will start and end at Malton GO. Peel police also warned drivers about manhole covers lifting due to downpours.

As the city grapples with the deluge, Mayor Olivia Chow is addressing the media, emphasizing caution around water bodies and urging travelers to plan their routes carefully. Union Station’s Bay Concourse Hall has already experienced flooding, and some roads are closed due to high water levels. Toronto Pearson Airport, however, remains operational with no flight disruptions.

Stay informed, stay safe, and be prepared for further updates as the storm continues to impact the GTA. 

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