Markets Plunge Amid Middle East Tensions
Montreal News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Stock markets plummeted today due to surging energy prices and inflation fears linked to Middle East tensions. The S and P/TSX composite index dropped 537 points to 31,317, while the Dow fell 444 points to 45,577. The S and P 500 shed 100 points to 6,506, and the Nasdaq tumbled 443 points to 21,648. Oil prices soared, with the May crude contract jumping $2.68 to $98.23 a barrel. Investors are flocking to safe havens, erasing hopes for U.S. rate cuts this year and even hinting at possible hikes as far out as 2026. Central banks worldwide kept rates steady to combat inflation risks. In Canada, most sectors ended lower, except for consumer staples. The Canadian dollar held steady at 72 cents US. Experts suggest markets typically rebound quickly from Middle East flare-ups, provided oil prices dont stay high for long. All eyes are on energy trends and central bank signals as volatility persists in global assets.
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