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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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TD Bank Fined $3 Billion for Money Laundering Violations

 


Toronto-Dominion Bank (TD Bank) has agreed to pay a staggering $3 billion in fines after pleading guilty to multiple charges of money laundering and failing to maintain an adequate anti-money laundering program. This historic settlement marks the largest penalty ever imposed under the U.S. Bank Secrecy Act.

The charges stem from TD Bank’s failure to monitor and report suspicious activities, which allowed drug traffickers and other criminals to launder significant sums of money through the bank’s accounts. U.S. authorities revealed that TD Bank employees were bribed to facilitate these illegal transactions, with over $670 million being laundered through the bank over several years.

In addition to the financial penalties, TD Bank will face an asset cap, limiting its growth in the U.S. market. The bank has also committed to enhancing its compliance programs to prevent future violations.

Bharat Masrani, CEO of TD Bank Group, issued an apology, acknowledging the bank’s failures and pledging to make necessary changes to restore trust and compliance.

This case serves as a stark reminder of the importance of robust anti-money laundering measures and the severe consequences of neglecting them.


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