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Oil Jumps as U.S.-Iran Fighting Resumes: TSX Slips, Asia Slides, Fed Hike Bets Rise

  Markets are opening September on edge. The U.S. and Iran exchanged direct attacks over the weekend for the first time in a month, a tanker was struck by projectiles in the Strait of Hormuz on Monday, and President Trump threatened further strikes — sending oil higher, bond yields to fresh highs, and stocks lower on both sides of the border heading into Wednesday's Bank of Canada decision. Canada: TSX Falls for a Second Straight Session The S&P/TSX Composite closed Monday at 36,270.48 , down 283.44 points (-0.78%) , as renewed Middle East tensions hit financials and mining stocks. Canada's Big Banks slid despite widespread expectations the Bank of Canada holds rates Wednesday: TD fell 0.6%, while BMO and Scotiabank each lost 1.2%. Gold miners also retreated as bullion cooled from last week's records — Agnico Eagle dropped 1.9%, Barrick fell 2.2%, and Wheaton Precious Metals slid 2%. Index Close Change S&P/TSX Composite 36,270.48 -283.44 (-0.78%) U.S. Markets: Monda...
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Arctic Chill and Lake-Effect Snow Squalls Grip Ontario

Ontario is currently experiencing a dangerous Arctic freeze, with lake-effect snow squalls continuing to impact the region. The Arctic airmass has brought bitterly cold temperatures, causing snow squalls off the still-unfrozen Great Lakes. Snow squall watches and warnings are in effect for several areas, with parts of southern Ontario expected to see over 40 cm of snow accumulation through Wednesday.

Extreme cold warnings have been issued for all of northern Ontario, where wind chills as low as -50°C are forecast. These frigid conditions pose a significant risk of frostbite and hypothermia, with temperatures expected to remain below freezing for the next few days.

Residents are advised to bundle up with extra layers, limit outdoor exposure, and be cautious while traveling due to poor visibility and slippery road conditions. Stay safe and warm during this extreme weather event!


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