S&P/TSX Composite Drops Over 100 Points; U.S. Markets Decline Too
The financial markets faced significant downward pressure on March 2, 2026. Canada’s primary stock index experienced a notable drop of more than 100 points, paralleling declines in U.S. stock markets. This downward trend was influenced by escalating tensions in the Middle East, specifically due to ongoing military actions involving the U.S. and Israel against Iran.
S&P/TSX Composite Drops Over 100 Points
The S&P/TSX composite index declined by 136.80 points, closing at 34,203.19. This steep drop reflected broader market anxieties and was coupled with increasing oil prices due to disruptions in tanker traffic through the critical Strait of Hormuz.
U.S. Market Declines
In the United States, major indices also fell sharply:
- The Dow Jones industrial average decreased by 437.18 points, settling at 48,540.74.
- The S&P 500 index dropped 50.87 points, ending at 6,828.01.
- The Nasdaq composite fell by 163.15 points, bringing it to 22,505.06.
Oil and Gold Prices Surge
Amidst the market volatility, commodity prices surged. The April crude oil contract increased by $5.20, reaching $72.22 per barrel. Similarly, the April gold contract rose significantly by $115.80, closing at $5,363.70 per ounce. This spike was attributed to fears surrounding supply disruptions linked to geopolitical tensions.
