Canada's Stock Market Plunges as Oil Prices Surge
Canada's stock market took a hit on September 28, 2026, as the S&P/TSX composite index plummeted over 300 points. The losses were widespread across various sectors, including base metals, technology, and telecoms.
The decline was also felt in U.S. markets, with the Dow Jones industrial average down by nearly 400 points and the S&P 500 index falling around 65 points. Meanwhile, oil prices rose sharply, with the November crude contract increasing by $2.99 to reach $95.40 per barrel.
The Canadian dollar also lost some ground against the U.S. dollar, trading at 70.58 cents US compared to 70.70 cents US on Friday. Gold prices took a hit as well, with the December gold contract down by $168.00 to $4,153.20 an ounce.
The losses were significant, but it's worth noting that these figures are subject to change and may not reflect the current market situation.