TSX Slides on Renewed US-Iran Tensions

2026-07-08 14:06 By Isabela Couto 1 min. read

The S&P/TSX Composite Index fell nearly 1% to trade below 35,000 on Wednesday as renewed US-Iran tensions fueled risk aversion.

US President Trump said the memorandum of understanding with Iran to end the conflict was "over," reviving concerns over potential disruptions to global energy supplies.

Higher oil prices renewed fears of energy-driven inflation and higher interest rates, weighing on financials and the broader index.

TD Bank, BMO, and CIBC fell about 1%, while Brookfield lost 2%.

Mining stocks also came under pressure as gold prices slipped and Trilogy Metals (-1%) reported a wider second-quarter loss.

Agnico Eagle fell more than 2.5%, while Barrick and WPM lost about 2%.

Tech stocks also weakened, with Shopify and Constellation Software down 4%.

Investors also awaited the minutes from the Fed's June meeting for further clues on the US monetary policy outlook.

Markets continue to expect the BoC to keep interest rates unchanged at its July 15 meeting.



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TSX Slides on Renewed US-Iran Tensions
The S&P/TSX Composite Index fell nearly 1% to trade below 35,000 on Wednesday as renewed US-Iran tensions fueled risk aversion. US President Trump said the memorandum of understanding with Iran to end the conflict was "over," reviving concerns over potential disruptions to global energy supplies. Higher oil prices renewed fears of energy-driven inflation and higher interest rates, weighing on financials and the broader index. TD Bank, BMO, and CIBC fell about 1%, while Brookfield lost 2%. Mining stocks also came under pressure as gold prices slipped and Trilogy Metals (-1%) reported a wider second-quarter loss. Agnico Eagle fell more than 2.5%, while Barrick and WPM lost about 2%. Tech stocks also weakened, with Shopify and Constellation Software down 4%. Investors also awaited the minutes from the Fed's June meeting for further clues on the US monetary policy outlook. Markets continue to expect the BoC to keep interest rates unchanged at its July 15 meeting.
2026-07-08
TSX Futures Fall as US-Iran Tensions Escalate
Futures tracking the S&P/TSX Composite Index fell on Wednesday as renewed US-Iran tensions lifted oil prices. US President Trump said the memorandum of understanding with Iran to end the conflict was "over," reviving concerns over potential disruptions to global energy supplies. Higher oil prices renewed fears of energy-driven inflation and higher interest rates, weighing on financials and the broader market. Mining stocks also came under pressure as gold prices slipped, while Trilogy Metals reported a wider second-quarter loss. Meanwhile, investors awaited the minutes from the Fed's June meeting for further clues on the US monetary policy outlook. Markets continue to expect the BoC to keep interest rates unchanged at its July 15 meeting.
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TSX Rises as Energy Gains Offset Mining Losses
The S&P/TSX Composite Index gained 0.2% to close at 35,273 on Tuesday, supported by the energy sector and strong trade data. Canadian Natural rose 3.2%, Suncor added 3.2%, Imperial Oil gained 3%, and Cenovus advanced 3.5% as oil prices climbed after reports that the US would revoke the waiver allowing Iran to sell its oil following recent attacks on tankers in the Strait of Hormuz. Financials traded mixed as investors awaited the minutes from the Fed's June meeting for clues on monetary policy. RBC gained 0.5%, TD Bank rose 0.6%, and BMO added 1.2%, while Scotiabank and Brookfield lost 1%. Meanwhile, lower gold prices weighed on miners, with Agnico Eagle and WPM falling 3.2% and Barrick dropping 3.5%.
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