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TSX Steadies After Bond Rout | Canadian Money Brief — May 19, 2026

  TSX Steadies After Bond Rout — But Iran Uncertainty Keeps a Lid on Gains Canadian equities attempt a cautious bounce this morning after last week's sharp sell-off. Oil near US$100 props up energy shares, while gold cools in Canadian-dollar terms and the loonie holds a fragile grip at 72–73 cents US. Canadian Money Brief  ·  moneysavings.ca  ·  May 19, 2026 TSX ~34,020 ▲ Recovering CAD/USD $0.727 → Flat WTI Oil ~US$100 ▲ Elevated Gold (CAD) ~$6,243/oz ▼ Pullback BoC Rate On Hold → Patient Overview Canadian markets opened cautiously higher this Tuesday after the S&P/TSX Composite suffered its worst single-session drop in weeks on Friday, closing at 33,833 — a decline of 1.27% — as a global bond-market selloff combined with stalled US–Iran negotiations hammered sentiment. Today's session opened around 34,027 , with the index trading in a tight range of roughly 33,745 to 34,175, suggesting investors are rebuilding positions but remain wary. The dominant story...
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India Pauses U.S. Arms Purchases Amid Tariff Tensions

 

                                    U.S. President Donald Trump on Aug. 6 doubled tariffs on imports from India.

India has temporarily suspended plans to acquire advanced weapons and aircraft from the United States following President Donald Trump’s announcement of steep new tariffs on Indian exports. The move signals rising tensions between the two strategic partners, whose defense ties have deepened over the past decade.

On August 6, Trump imposed a 25% tariff hike on Indian goods, citing India’s continued purchases of Russian oil. This brought total duties on Indian exports to 50%, making them among the highest faced by any U.S. trading partner. Indian officials have called the decision “punitive and politically motivated,” and are reassessing major defense deals in response.

Among the affected agreements are:

  • A $3.6 billion deal for six Boeing P-8I maritime surveillance aircraft
  • Procurement of Stryker combat vehicles from General Dynamics
  • Javelin anti-tank missiles from Raytheon and Lockheed Martin

Defense Minister Rajnath Singh was scheduled to visit Washington to finalize these purchases, but the trip has been canceled. While no formal directive has been issued to halt the deals, officials say there is “no forward movement at least for now.”

Despite the pause, India has emphasized that broader defense cooperation—including intelligence sharing and joint military exercises—remains intact. However, the tariff dispute has cast a shadow over future arms negotiations, and may prompt India to explore alternative suppliers in Europe or expand domestic production.


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