@ the Bell: Markets slide as Iran-Israel conflict deepens
Canada's main stock index declined on Tuesday as the conflict between Iran and Israel entered its fifth day, prompting investors to shift toward safer assets amid concerns the situation could escalate into a wider regional crisis.
On Monday evening, US President Donald Trump posted on his social media platform, urging, 'Everyone should immediately evacuate Tehran.' He also left the G7 summit in Canada ahead of schedule to address the unfolding Middle East crisis.
US markets also saw a downturn as investors closely monitored the intensifying conflict between Israel and Iran.
In an unexpected announcement, Prime Minister Mark Carney revealed that he and Trump had agreed to pursue a new economic and security agreement between their countries, aiming to finalize it within 30 days.
The Canadian dollar traded for 73.19 cents US compared to 73.77 cents US on Monday.
US crude futures traded US$3.33 higher at US$75.10 a barrel, and the Brent contract rose US$3.46 to US$76.69 a barrel.
The price of gold was down US$12.88 to US$3,384.76.
In world markets, the Nikkei was up 225.41 points to ¥38,536.74, the Hang Seng was down 80.69 points to HK$23,980.30 the FTSE was down 41.19 points to ₤8,834.03, and the DAX was down 264.47 points to €23,434.65.
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