TSX Tumbles Amid Middle East Uncertainty and Hawkish Central Banks

Canada's main stock index opened lower on Friday as broad-based losses weighed on the index. Investors were cautious due to developments in the Middle East, despite oil prices easing on reports of additional supply from Saudi Arabia.

The S&P/TSX Composite Index dropped 0.34% at 35,750.79 by 9:32 a.m. ET, as investors digested conflicting signals from lower oil prices and higher Treasury yields.

Global shares and bonds dipped on Friday, with Japan's yen experiencing its biggest daily slide since mid-February after the Bank of Japan raised rates to a 31-year high of 1.25%. The decision was expected but still excited yen bears, who see further weakness ahead.