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Tech Selloff Rattles Wall Street as Iran Peace Talks Ease Oil — June 23, 2026

A sharp selloff in technology stocks weighed on North American markets Tuesday as investors continued to digest the fallout from Alphabet's steep decline and reassess valuations across Big Tech. Canada's TSX hovered near the 35,000 level, oil drifted lower on progress in U.S.-Iran peace negotiations, and gold pulled back from recent highs as hawkish Federal Reserve signals kept pressure on precious metals. 🇨🇦 Canada — TSX & Economy Index / Asset Level Change S&P/TSX Composite ~34,857 ▼ −0.32% CAD/USD ~$0.705 USD ▼ −0.19% WTI Crude Oil ~$73.67 USD/bbl ▼ −0.26% Canada CPI (May 2026) 3.2% YoY ▲ Above 3% target The S&P/TSX Composite Index dipped slightly Tuesday, retreating from the 35,000 level it briefly crossed on Monday after Canada's banking regulator freed up capital requirements for major lenders. The pullback came as tech-driven weakness from Wall Street spread northward. Financials had been a bright spot on Monday — RBC and BMO each added more than 1% aft...

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Former Soccer Star Mikheil Kavelashvili Elected President of Georgia, Sparking Concerns Over EU Aspiration

 

In a significant political shift, former soccer player Mikheil Kavelashvili has been elected as the President of Georgia. This development has raised concerns about the country's future relationship with the European Union. Kavelashvili, 53, secured the presidency with the backing of the ruling Georgian Dream party, which holds a strong influence over the 300-seat electoral college that replaced direct presidential elections in 2017.

The election outcome is seen by many as a setback for Georgia's EU aspirations. The opposition has accused the Georgian Dream party of rigging the vote with Moscow's assistance, further straining the country's political landscape. Critics argue that the ruling party's policies are increasingly authoritarian and pro-Russian, which could hinder Georgia's efforts to integrate with the European Union.

Outgoing President Salome Zourabichvili, a pro-Western leader, has vowed to remain in office until a new election is held, citing the lack of legitimacy in the current parliamentary setup. The political turmoil has led to widespread protests and calls for new elections under conditions that ensure the will of the people is accurately represented.

Kavelashvili's presidency marks a pivotal moment for Georgia, as the nation navigates its path between European integration and maintaining relations with Russia. The coming months will be crucial in determining the direction of Georgia's political and international future.

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