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TSX Surges 1.35% as Nvidia Beats and Oil Retreats Below $100

  TSX Surges 1.35% as Nvidia Beats and Oil Retreats Below $100 A blowout Nvidia earnings report and accelerating US-Iran peace diplomacy conspired to lift Canadian equities, while a sharp drop in crude oil — below the psychologically important $100 mark — offered relief to consumers and rate-watchers alike. TSX 34,197.87 ▲ +1.35% CAD/USD 0.7275 ▼ −0.02% WTI Crude $97.83 ▼ −6.07% Gold $4,518/oz ▼ −0.38% Bitcoin CAD $106,195 ▲ +0.79% Market Overview Bay Street Bounces Back Canadian equities logged their best single-day gain in weeks on Thursday as two powerful tailwinds converged: Nvidia's standout quarterly results lifted North American tech sentiment broadly, while peace-talk progress between the US and Iran sent oil prices tumbling more than six percent. The S&P/TSX Composite Index climbed to 34,197.87, recovering the ground lost during Tuesday's selloff and then some. The Nvidia Effect Chipmaker Beats Estimates, Rewards Shareholders After Wednesday's close, Nvidia rep...
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Market Turmoil: S&P 500 Enters Correction Amid Escalating Trade War

                                                   

The stock market faced a sharp downturn on Thursday, with the S&P 500 officially entering correction territory. The index fell 1.4%, marking a 10% decline from its recent high. The Dow Jones Industrial Average dropped 1.3%, while the tech-heavy Nasdaq plummeted nearly 2%.

This market turbulence comes as trade tensions escalate. The European Union's retaliatory tariffs on U.S. goods, including a 50% tax on American whiskey, prompted the U.S. administration to threaten a 200% tariff on European wines and spirits. These developments have left investors on edge, fearing the economic repercussions of a prolonged trade war.

Adding to the uncertainty, debates over a stop-gap spending bill to prevent a government shutdown have further rattled market sentiment. Despite cooler-than-expected inflation data, concerns about economic stability and policy unpredictability continue to weigh heavily on Wall Street.

The correction in the S&P 500 underscores the fragility of the current market environment, as investors navigate a landscape fraught with geopolitical and economic challenges.

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