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Tariff Deadline Day: TSX Slips to 2-Week Low as Wall Street Slides and Oil Tops $93

  August 21, 2026 Today's the day: the three-day pause on Washington's 50% tariff threat on a slate of Canadian goods runs out at the end of the trading session, and as of last night nothing was signed. Add in a bond-yield-driven selloff on Wall Street, oil pushing above $93 on Middle East tensions, and gold holding near record highs, and Canadian investors have a lot to watch before the weekend. Today's snapshot: 50% Canada-U.S. tariff pause expires end of day today — no deal signed as of last night TSX closed Thursday at a two-week low as banks fell and gold miners gained Wall Street's worst day in over a week; Dow lost more than 700 points Oil near two-month highs, gold above $4,500/oz, loonie strengthening 🇨🇦 TSX: Two-Week Low as Financials Slide Canada's main index edged down to its lowest closing level since Aug. 6 on Thursday, as steep losses for the Big Five banks offset gains for resource and gold-mining shares. The pullback came even as oil prices rose, ...
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Wall Street Stumbles Amid Inflation and Tariff Concerns

                                        

Wall Street faced a sharp downturn as fresh U.S. economic data reignited fears of inflation and tariff impacts. The S&P 500 dropped 1.97%, closing at 5,580.94 points, while the Nasdaq fell 2.70% to 17,322.99 points, and the Dow Jones Industrial Average declined 1.69% to 41,583.90 points.

The latest data revealed weaker-than-expected consumer spending in February, coupled with a significant rise in underlying prices—the highest in 13 months. Additionally, a University of Michigan survey highlighted soaring inflation expectations, reaching their highest levels in over two years.

These developments, combined with escalating tariff measures from the Trump administration, have heightened concerns about the economic outlook. Major tech stocks, including Amazon, Microsoft, and Apple, saw significant losses, reflecting broader market unease.

Market analysts warn that the inflationary effects of tariffs may intensify in the coming months, further complicating the Federal Reserve's monetary policy decisions. As uncertainty looms, businesses and investors are adopting a cautious stance, bracing for potential economic turbulence.

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