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TSX Slumps as Central Banks Hold Steady

  Canada’s Main Index Suffers Sharpest Drop Since May The Toronto Stock Exchange’s S&P/TSX composite index fell 169.92 points, or 0.6%, to close at 27,369.96 on Wednesday, marking its steepest single-day decline in ten weeks. The drop followed a record high the previous day, underscoring investor unease as both the U.S. Federal Reserve and the Bank of Canada opted to keep interest rates unchanged. The materials sector led the retreat, sliding 2.1% amid tumbling copper and gold prices. Financials and technology also posted losses, down 0.6% and 0.5% respectively, as eight of the index’s ten major sectors ended in the red. Market sentiment soured after the Fed’s decision to hold rates steady offered no clear timeline for future cuts, disappointing investors hoping for dovish signals. Meanwhile, the Bank of Canada maintained its benchmark rate at 2.75% for the third consecutive meeting, citing reduced risks of a global trade war. Among individual stocks, Capital Power Corp sa...
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Iran Warns of Retaliation Against U.S. Bases Amid Nuclear Tensions

Iran has issued a stark warning, threatening to strike U.S. military bases in the region if nuclear negotiations fail and a conflict arises. The statement, made by Iranian Defence Minister Aziz Nasirzadeh, comes just days before a planned sixth round of nuclear talks between Tehran and Washington.

Nasirzadeh emphasized that Iran would not hesitate to target American bases if hostilities were imposed on the country. "All U.S. bases are within our reach, and we will boldly target them in host countries," he declared during a press briefing. His remarks follow repeated threats from U.S. President Donald Trump, who has warned of military action if Iran does not agree to a new nuclear deal.

The upcoming negotiations, scheduled to take place in Oman, are expected to be pivotal. Iran is set to present a counter-proposal to a previous U.S. offer that it had rejected. However, tensions remain high, with Trump expressing doubts about reaching an agreement. "I’m less confident now than I would have been a couple of months ago," he admitted in a recent interview.

Beyond nuclear concerns, Iran's missile program has also been a point of contention. Nasirzadeh revealed that Tehran had recently tested a missile with a two-ton warhead and reiterated that Iran would not accept limitations on its military capabilities. Supreme Leader Ayatollah Ali Khamenei has previously urged further development of Iran’s missile arsenal.

As both nations prepare for another round of talks, the risk of escalation looms large. Whether diplomacy prevails or tensions boil over into conflict remains to be seen.

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