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Global Markets Reel as Wall Street Suffers Sharpest Fall Since Iran Conflict Began

Wall Street endured its steepest decline since the outbreak of the Iran war, as renewed uncertainty over diplomatic progress sent shockwaves through global markets. The S&P 500 plunged 1.7% , marking its worst day since January and extending a five‑week losing streak , the longest in nearly four years. The Dow Jones Industrial Average fell 469 points , while the Nasdaq dropped 2.4% , slipping more than 10% below its record high — a threshold investors label a correction .  The downturn followed conflicting signals about potential ceasefire negotiations. While U.S. officials suggested Iran was open to talks, Tehran publicly denied direct engagement and dismissed a U.S. proposal delivered via Pakistan. The resulting uncertainty pushed oil prices sharply higher , with Brent crude rising 4.8% to $101.89 , up from roughly $70 before the conflict. Global markets echoed the volatility, with major indexes across Asia and Europe also tumbling. Analysts warn that Iran’s tightening con...
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Canada Dodges Major Impact in Trump's Tariff Storm

In a sweeping move, U.S. President Donald Trump announced retaliatory tariffs targeting imports from dozens of countries. While Canada wasn't entirely spared, it avoided the harshest measures. The new tariffs include a 25% levy on foreign-made automobiles, which could have significant implications for Canada's auto industry. However, Canada is exempt from the baseline 10% tariff applied to other nations.

Trump's administration claims these tariffs aim to bolster domestic manufacturing, but critics warn of potential economic fallout, including higher consumer prices and strained international relations. Canada, already facing tariffs on steel, aluminum, and energy, remains cautious as bilateral tensions continue to rise.

Prime Minister Mark Carney has vowed to address these challenges, emphasizing the importance of preserving Canada's economic stability amid shifting trade dynamics. The situation underscores the delicate balance between maintaining trade partnerships and navigating protectionist policies.

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