Canadian Stock Market Plunges Amid Energy Stocks Weakness and Economic Concerns

The Canadian stock market faced selling pressure 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.

This decline was largely due to weakness in energy stocks following a drop in oil prices. The market had already lost 311.03 points, or 0.87%, on Monday, closing at 35,489.86.

The Canadian economy showed signs of slowing down in July, with GDP remaining flat, but preliminary figures suggested a modest pickup in August.

Investors are also concerned about the ongoing US-Iran conflict and its potential impact on oil supplies and global inflation.