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Daily Markets Update: Oil Rattles TSX Ahead of BoC Hike Week | Oct 26

  Canadian Money Brief • Daily Markets Update Monday, October 26, 2026 • Covers Friday’s North American and European closes plus Monday’s Asian session Oil took over from AI as the market’s main worry on Friday. Crude jumped above US$100 on fresh attacks on Saudi Arabia, the S&P/TSX Composite finished the week lower, and Wall Street logged a second straight weekly loss for the S&P 500. Monday brought a small reprieve: oil slipped after no weekend escalation in the Iran war, and most Asian and European markets steadied — just ahead of a week stacked with central bank decisions, including the Bank of Canada on Wednesday. The 30-second version TSX: 35,788.18 , down 185.27 points (−0.52%) Friday; −1.07% on the week. Wall Street: Dow −1.2%, S&P 500 −0.5%, Nasdaq −0.2%. Oil: WTI settled at US$103.27 ; Brent at US$116.72 . Loonie: 71.46¢ US , a five-week high. Bank of Canada: markets price roughly an 80% chance of a hike to 2.50% on Wednesday. Canada: TSX Ends the Week in the...
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China's Defiance: A Trade War Escalates


China has vowed to "fight to the end" in response to former President Donald Trump's latest tariff threats, marking a significant escalation in the ongoing trade war between the world's two largest economies. Trump's proposed additional 50% tariff on Chinese imports has been met with strong resistance from Beijing, which has labeled the move as "unilateral bullying" and a "mistake on top of a mistake".

The Chinese Ministry of Commerce has emphasized its commitment to safeguarding the nation's sovereignty and economic interests, hinting at further countermeasures. Meanwhile, the U.S. tariffs on Chinese goods could reach a staggering 104% if implemented, raising concerns about global economic stability.

As tensions rise, stock markets worldwide have shown increased volatility, reflecting fears of a prolonged trade war. Both nations appear steadfast in their positions, with China signaling its readiness to retaliate and Trump warning of the termination of all talks with Beijing. The outcome of this confrontation remains uncertain, but its implications for international trade and economic growth are profound.

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