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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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Trump Asserts Severe Damage from Iran Strikes Amid Intelligence Uncertainty

At the NATO summit in The Hague on June 25, U.S. President Donald Trump declared that recent missile strikes on Iranian nuclear facilities caused “very severe” damage, despite acknowledging that intelligence assessments remained inconclusive.

“The intelligence says we don’t know. It could’ve been very severe. That’s what the intelligence suggests,” Trump told reporters, before adding, “It was very severe. There was obliteration”.

His remarks came in response to a leaked Defense Intelligence Agency (DIA) report suggesting the strikes may have only delayed Iran’s nuclear program by a few months. Trump, however, insisted the impact was far greater, claiming the program had been set back “basically decades.”

Flanked by Secretary of State Marco Rubio and Secretary of Defense Pete Hegseth, Trump also criticized the leak of the DIA report, with Rubio announcing an investigation into its disclosure and suggesting the media had misrepresented its findings.

The comments added a layer of ambiguity to the U.S. administration’s narrative, as officials continue to defend the operation’s effectiveness while intelligence agencies urge caution in drawing conclusions.

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