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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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Putin and Xi Urge Diplomacy After Condemning Israeli Strikes on Iran

In a phone call on June 19, Russian President Vladimir Putin and Chinese President Xi Jinping issued a strong joint condemnation of Israel’s recent military strikes on Iran, calling them a violation of international law and the UN Charter.

Both leaders emphasized the urgent need for a ceasefire, with Xi stating that “armed force is not the correct way to resolve international disputes” and urging Israel to halt its attacks to prevent further regional escalation. Putin echoed this sentiment, warning that continued hostilities could lead to catastrophe and reaffirming Russia’s willingness to mediate between the conflicting parties.

The two leaders also expressed concern over the targeting of Iranian nuclear facilities, stressing that such issues must be addressed through political and diplomatic means rather than military action. Xi voiced support for Russia’s mediation efforts, suggesting that Moscow could play a constructive role in de-escalating the crisis.

Their call comes amid growing international anxiety over the potential for broader conflict in the Middle East, as tensions between Israel and Iran continue to rise. Both Moscow and Beijing signaled their intent to remain closely engaged in efforts to restore stability in the region.

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