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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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Tragedy at Sea: Indonesian Ferry Sinks Near Bali, Dozens Missing

Indonesian authorities are racing against time to locate 29 people still missing after a ferry sank late Wednesday night near the resort island of Bali. The vessel, *KMP Tunu Pratama Jaya*, was en route from Ketapang port in East Java to Gilimanuk port in Bali when it capsized roughly 30 minutes into its journey.

The ferry was carrying 65 individuals, including 53 passengers and 12 crew members, along with 22 vehicles. As of Thursday afternoon, 31 people had been rescued, while six fatalities have been confirmed, including a three-year-old child and his mother.

Survivors described a harrowing scene as the ferry tilted and quickly submerged. “The ship quickly sank, so I did not jump but sank with the water,” said 64-year-old Supardi, who managed to survive by clinging to a life jacket.

Rescue efforts have been hampered by rough seas, with waves reaching up to 2.5 meters and strong currents. A team of over 50 personnel, supported by helicopters and boats, continues to scour the area for survivors.

Marine accidents are tragically common in Indonesia, an archipelago of over 17,000 islands, where ferry travel is widespread and safety standards are often inconsistent. Authorities are investigating the cause of the incident, with early reports suggesting a possible leak in the engine room.

The search operation remains ongoing, with hopes that more survivors may still be found.

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