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Daily Markets Update: Hot U.S. CPI Rattles Tech, Kospi Crashes 7.6%, TSX Slides 1.1% (Oct. 15)

  Thursday, October 15, 2026 | Canadian Money Brief | Daily Markets Update A hotter-than-expected U.S. inflation report turned Wednesday into a risk-off day, and the damage spread overnight to Asia, where South Korea's Kospi crashed 7.6% and triggered a market-wide circuit breaker. Here is where Canada, the U.S. and the world's other major markets stand this morning. Today's Headlines U.S. CPI hit 3.7% in September (3.6% expected, 3.4% in August), with core inflation at 2.6%. The Nasdaq fell 1.88% and the S&P 500 lost 1.11%. The TSX fell 1.11% to 35,584.46 , ending a three-day winning streak as materials plunged 4.33%. Asia sold off hard on AI valuation fears: Kospi -7.57% (seventh straight loss), Nikkei -4.90%. The loonie sits near an 18-month low at about 70.1 US cents as Fed-hike bets rise. Brent closed at US$106.06 and gold slid to a one-week low near US$4,084. Canada: TSX Ends Three-Day Win Streak The S&P/TSX Composite Index fell 399.52 points, or 1.11%, to...
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CRA Extends 850 Call Centre Contracts to Ease Service Strain

                Canada Revenue Agency (CRA) national headquarters in Ottawa on Friday, June 28, 2024.

The Canada Revenue Agency (CRA) has granted contract extensions to approximately 850 call centre employees whose terms were set to expire in September. The move comes amid mounting concerns from the Union of Taxation Employees (UTE) over staffing shortages that have led to long wait times, dropped calls, and a surge in taxpayer complaints.

Union president Marc Brière described the decision as a “first victory” in their campaign to halt job cuts and restore service levels. Over the past year, the CRA has shed nearly 3,300 call centre positions, a reduction the agency attributes to budget constraints, the end of temporary pandemic programs, and government-wide savings initiatives.

While the extensions will keep the affected workers on staff until March 2025, both the union and the taxpayers’ ombudsperson warn that further cuts could deepen service delays. The federal government is currently reviewing departmental budgets with potential reductions of up to 15% over three years.


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