Canada's main stock index ?opened lower on Thursday, as U.S. President Donald Trump' threats to escalate attacks on Iran dampened hopes for ?a swift resolution to the Middle ?East conflict.
The TSX faltered 158.55 points to open the shortened week’s final session at 32,799.37. Still, on the week so far, the index has vaulted 957 points, or 3%.
The Canadian dollar wilted 0.23 cents at 71.83 cents U.S.
Markets throughout North America are closed for Good Friday.
ON BAYSTREET
The TSX Venture Exchange dished off 20.37 points, or 2.1%, to 954.18, for a loss on the week of 58.5 points, or 6.4%.
All but two of the 12 TSX subgroups were lower in the first hour, weighed most by telecoms, folding 2.5%, while gold and materials each shed 1.5%.
The two gaining group were energy, rumbling 3%, and utilities, up 0.9%.
ON WALLSTREET
Stocks tumbled on Thursday after President Donald Trump indicated that the Iran war would continue, sending oil prices higher as well.
The Dow Jones Industrials index plunged 376.23 points to 46,189.51.
The S&P 500 index dropped 48.01 points to 6,527.31.
The NASDAQ removed 219.21 points, or 1%, to 21,621.83.
Trump delivered an address Wednesday night, providing updates on the Middle East conflict. Though he said that the U.S. is “getting very close” to ending the Iran war, Trump added that the nation would “hit” Tehran “extremely hard.”
“Over the next two to three weeks, we’re going to bring them back to the stone ages where they belong,” the president said.
His comments led to a surge in oil prices. West Texas Intermediate crude futures were last up 11% at above $111 per barrel, while Brent crude futures advanced 7% to above $108 a barrel.
Major cruise operators tumbled after Trump’s speech failed to outline a clear path to end the war in Iran, leading oil prices to surge and reigniting demand fears. Carnival, Royal Caribbean and Norwegian Cruise Line all fell about 4%.
Higher oil prices also sent airline stocks tumbling, with Delta Air Lines, United Airlines, Southwest Airlines and Alaska Air all fell about 4%
Prices for the 10-year Treasury gained ground, weighing on yields to 4.30% from Wednesday’s 4.33%. Treasury prices and yields move in opposite directions.
Oil prices gained $10.75 to $110.87 U.S. a barrel.
Gold prices tailed off $130.70 to $4,605.40 U.S. an ounce.
