Canadian Stock Market Declines Amid Oil Price Weakness and Geopolitical Tensions

The Canadian stock market experienced a decline on Tuesday, September 29, as the S&P/TSX Composite Index fell 0.33% to 33,366.83 points by 9:34 a.m. ET.

The weakness in energy stocks contributed significantly to the decline, with oil prices moving lower and putting pressure on energy-related shares.

In addition to the impact of oil prices, Canada's July GDP data showed that the economy stalled, while preliminary figures indicated a modest pickup in August.

The market also reacted to ongoing geopolitical uncertainty surrounding the U.S.-Iran conflict, the Strait of Hormuz, and Canada-U.S. trade relations.