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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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Spain Shuts Airspace to U.S. Warplanes, Deepening Rift with Washington

 

                            No US planes involved in the Iran war will be allowed to enter the Spanish FIR

Spain’s decision to block U.S. military flights marks a sharp escalation in diplomatic friction, signaling Madrid’s firm opposition to Washington’s Iran campaign and reshaping transatlantic defense dynamics.

Spain has intensified its break with Washington by formally closing its airspace to U.S. military aircraft involved in operations against Iran. The move expands earlier restrictions that barred American forces from using the jointly operated bases at Rota and Morón for missions linked to the conflict. Spanish officials, including Prime Minister Pedro Sánchez, have condemned the U.S.-Israeli strikes on Iran as an “illegal war,” emphasizing that Spain will not participate in or facilitate actions it views as violating international law. 

Foreign Minister José Manuel Albares confirmed that the ban now applies to all U.S. flights tied to the conflict, even those originating from allied countries such as the U.K. or France. He stressed that Spain aims to avoid any step that could escalate the war, a stance supported by the majority of Spaniards. 

The airspace closure forces U.S. aircraft to take longer, less direct routes, complicating logistics for operations in the Middle East. This follows weeks of tension, including threats from President Donald Trump to cut off trade with Spain over its refusal to support the campaign. Despite the rift, Spain maintains its broader defense cooperation with the U.S. under existing bilateral agreements, though it remains firm in distancing itself from the Iran conflict. 

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