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Oil Surges Past $103 as TSX Extends Losing Streak

  Markets are lower this morning as oil surges past US$103 and tech stocks remain under pressure, with the TSX coming off a fourth straight decline. Below is your ready-to-publish Canadian Money Brief update for April 29, 2026 , built from today’s market data and news. TSX slips as oil spikes and global tensions rise The S&P/TSX Composite opened at 33,584 , down 0.69% from yesterday’s close as weakness in tech and materials continues to weigh on the index. Rising geopolitical tensions and renewed uncertainty around the Iran conflict have pushed WTI crude above US$103 , lifting Canadian energy names but not enough to offset broader declines.  U.S. markets are also softer, with the S&P 500 down 0.49% and tech stocks retreating amid renewed AI growth concerns.  Oil rallies on OPEC turmoil Crude prices are up more than 3% , driven by the UAE’s announcement that it will exit OPEC and by expectations of prolonged supply disruptions tied to the Iran war.  ...
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Market Meltdown: Dow Plunges 900 Points Amid Recession Fears

                                                  

The U.S. stock market experienced a sharp downturn on Monday, with major indices posting significant losses as concerns over a potential recession gripped investors. The Dow Jones Industrial Average dropped nearly 900 points, marking a 2.08% decline, while the tech-heavy Nasdaq Composite suffered its worst day since 2022, falling 4%. The S&P 500 also slid 2.7%, reaching its lowest level in six months.

The sell-off was driven by growing uncertainty surrounding tariff policies and their potential impact on the economy. Comments from President Trump over the weekend, describing the current economic situation as a "period of transition," further fueled market jitters. Key technology stocks, including Tesla, Nvidia, and Alphabet, led the declines, with Tesla experiencing a 15% drop.

Investors sought refuge in defensive sectors such as utilities and consumer staples, while Treasury yields fell amid expectations of a slowdown. The market's volatility index spiked, reflecting heightened fear among traders.


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