TORONTO – Canada’s main stock index was down more than 600 points in late-morning trading, while U.S. stock markets also fell after President Donald Trump said a ceasefire with Iran was over because of Iranian attacks on commercial shipping.
Oil prices also moved higher as Trump said on the sidelines of a NATO summit in Ankara, Turkey, that the U.S., which hit targets in Iran overnight, was preparing for another night of strikes.
The S&P/TSX composite index was down 626.71 points at 34,645.88.
In New York, the Dow Jones industrial average was down 776.20 points at 52,148.95. The S&P 500 index was down 71.63 points at 7,432.22, while the Nasdaq composite was down 227.35 points at 25,591.34.
The August crude oil contract was up US$5.18 at US$75.62 per barrel, while the August gold contract was down US$106.70 at US$4,050.70 an ounce.
The Canadian dollar traded for 70.53 cents US compared with 70.43 cents US on Tuesday.
This report by The Canadian Press was first published July 8, 2026.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
