S&P/TSX Composite Index Sharply Lower Monday Morning as Mid-East Hostilities Resume

MT newswire2026/08/31 14:25

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10:25 AM EDT, 08/31/2026 (MT Newswires) -- The S&P/TSX Composite Index fell sharply Monday mid-morning, shedding 380 points as hostilities between the US and Iran resumed, and US Federal Reserve chair Kevin Warsh did not close the door on interest rate hikes to tackle sticky inflation. The worst performer on last look was base metals, down 1.6%, followed by information technology, down 1.3%. The energy sector, benefiting from higher oil prices, was up 1.6%, and the best performer, followed by the telecommunications sector, which was last seen edging up 0.5%.

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The U.S. Energy Information Administration (EIA) has raised its forecast for average Brent crude oil prices in 2026 and 2027 to $97 and $86, respectively, reflecting pressures from global inventory declines, Middle East supply disruptions, and rising transportation costs. As oil production in the Middle East gradually recovers and global inventories rebound from low levels, the EIA expects the average spot price of Brent crude to fall to $87 per barrel in the second quarter of 2027, and further decline to $77 per barrel by the fourth quarter.

华尔街见闻•2026/11/10 18:41