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Gulf War Flare-Up: What the Latest U.S.–Iran Strikes Mean for Your Wallet

  The three-month-old war between the U.S.–Israel coalition and Iran escalated again this morning. Here's a plain-English breakdown of what happened — and what it means for your gas tank and grocery bill. What Happened on June 6? U.S. forces struck Iranian coastal radar sites on Saturday, June 6, after shooting down drones launched by Iran toward the Strait of Hormuz, according to the U.S. military. The U.S. military believes the four Iranian drones were targeting regional maritime traffic. U.S. Central Command said it struck Iran's surveillance sites in Goruk and Qeshm Island, both located on the Strait of Hormuz. Iran did not take that lying down: Iran's Revolutionary Guard Corps said it had targeted U.S. bases in Kuwait and Bahrain in retaliation and fired on four tankers attempting to cross the strait without its permission. U.S. forces also helped shoot down incoming Iranian missiles and drones directed at Kuwait and Bahrain — a barrage of seven ballistic missiles in t...
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Wall Street Slips on Tariff Ruling, but TSX Climbs to Fresh Record

 


U.S. markets stumbled Tuesday as a federal appeals court struck down most of former President Donald Trump’s global tariffs, sparking uncertainty over trade policy and rattling investor sentiment. The Dow Jones Industrial Average fell about 250 points, the S&P 500 dropped 0.7%, and the Nasdaq slid 0.8%, weighed down by rising Treasury yields and weakness in major tech names.

The tariff ruling — which Trump vowed to appeal to the Supreme Court — undercut one of the central pillars of his trade agenda, raising questions about future U.S. economic strategy. Investors also kept a close eye on upcoming economic data, including Friday’s August jobs report, which could influence Federal Reserve rate-cut decisions.

In contrast, Canada’s S&P/TSX Composite Index defied the broader market gloom, rallying late in the session to close at a record high. Strong performances in energy and materials helped offset trade concerns, underscoring the index’s resilience amid global market volatility.


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