TSX Falls to Five-Week Low Amid Rising Oil Prices and Inflation Concerns

The TSX Composite Index fell to a five-week low on Thursday, down 365.12 points or 1.02% at 35,541.44.

The decline was driven by rising oil prices and hotter-than-expected US producer inflation data.

U.S. producer prices rose 5.4% in August from a year earlier, slightly above economists' expectations for a 5.3% increase.

This reinforced concerns that higher energy costs could keep inflation elevated and make monetary policy more restrictive.