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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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Supreme Court Clears Path for Trump’s Third-Country Deportation Policy

In a significant legal development, the U.S. Supreme Court has lifted a lower court’s restrictions on the Trump administration’s ability to deport migrants to third countries—nations other than their country of origin. The unsigned emergency order, issued on June 23, allows the administration to resume these deportations while legal challenges continue to unfold.

The decision reverses a ruling by U.S. District Judge Brian Murphy, who had mandated that migrants be given a “meaningful opportunity” to contest deportation if they feared torture or persecution in the destination country. The Trump administration had argued that this requirement was obstructing efforts to remove individuals—many of whom had been convicted of serious crimes—especially when their home countries refused to accept them.

The Supreme Court’s conservative majority did not provide a rationale for the decision, a common practice in emergency rulings. However, the court’s three liberal justices issued a scathing dissent. Justice Sonia Sotomayor criticized the move as a “gross abuse” of judicial discretion, warning that it could expose thousands to the risk of torture or death.

The case now returns to the lower courts, where broader questions about the legality and constitutionality of third-country deportations remain unresolved.

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