TSX Composite Index Plunges Nearly 237 Points Amid Middle East Conflict

The S&P/TSX Composite Index saw significant losses on Tuesday morning, down by nearly 237 points. Commodities were a notable exception to this trend, however, with a substantial gain of 4.3% in the base metals sector and a 2% increase in the energy sector.

Information technology was the worst performer among sectors, shedding 3.7%. Bombardier (BBD-B.TO) shares took a hit after President Trump threatened to boycott its planes unless they were built in the US. The company responded by highlighting its growing American presence and supply chain of over 2,800 US companies across 47 states.

The decline in the S&P/TSX Composite Index came as fighting spread in the Middle East following an Iran-backed Houthi attack on several cities in Saudi Arabia, injuring dozens. The conflict is likely to have a ripple effect on global markets and commodity prices.