Canada's S/TSX Composite Index Drops Amid Weaker Commodities and Fed Rate Hike Expectations
Canada's S&P/TSX Composite Index experienced its largest decline since February 12, driven by weaker commodities and heightened expectations of a Federal Reserve rate hike. The index retreated from a record high as investors reacted to strong U.S. jobs data, which increased the likelihood of a rate hike by the Federal Reserve. Additionally, oil prices surged nearly 5% following Israeli strikes on Iran and renewed attacks in Lebanon, further contributing to inflation concerns. Investors are now closely monitoring the Bank of Canada's upcoming interest rate decision for further policy direction. 
