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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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U.S. Urges China to Dissuade Iran from Closing Vital Oil Chokepoint

In a high-stakes diplomatic appeal, U.S. Secretary of State Marco Rubio has called on China to intervene and prevent Iran from executing a plan to close the Strait of Hormuz—a critical maritime passage through which nearly 20% of the world’s oil supply flows.

The request follows reports that Iran’s parliament approved a measure to shut the strait in response to recent U.S. airstrikes on Iranian nuclear facilities. While the final decision rests with Iran’s Supreme National Security Council, the move has already rattled global markets and raised fears of a broader conflict.

Rubio emphasized China’s leverage, noting its heavy reliance on Iranian oil. “If they do that, it will be another terrible mistake. It’s economic suicide for them,” he said, urging Beijing to use its influence to de-escalate the situation.

The European Union echoed these concerns, warning that any disruption in the Strait would be “extremely dangerous and not good for anybody”.

As tensions mount, the world watches closely—aware that a single decision in the Persian Gulf could ripple across global energy markets and geopolitical alliances.

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