TSX dips as Middle East tensions and US inflation weigh
The Toronto Stock Exchange's S&P/TSX composite index fell 0.2% on Tuesday as stalled U.S.-Iran peace talks pushed oil prices higher. While energy stocks rose, investors grew concerned that rising inflation and energy costs could prompt central banks to keep interest rates elevated for longer.
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Canada's S&P/TSX composite index fell 0.2% to 34,047.97 on midday Tuesday as geopolitical tensions drove energy prices higher. The decline follows two days of gains and coincides with a surge in oil prices. Investors fear rising energy costs will fuel inflation, potentially forcing the central bank to resume interest rate hikes.
