The TMX Market Centre is shown in Toronto, Wednesday, Sept. 11, 2024. (Image Credit: THE CANADIAN PRESS/Paige Taylor White)

By Canadian Press

Middle Eastern Conflict

S&P/TSX composite down over 1,000 points, price of oil rises

Mar 3, 2026 | 9:45 AM

Canada’s main stock index was down over 1,000 points in early trading, while U.S. stock markets also fell amid fears about the war with Iran expanding and a sharp increase in the price of oil.

The cost of crude was up as Iran launched a series of retaliatory attacks, including a drone strike on the U.S. Embassy in Saudi Arabia.

The April crude oil contract was up US$6.25 at US$77.48 per barrel, while the April gold contract was down US$176.30 at US$5,135.30 an ounce.

The S&P/TSX composite index was down 1,182.22 points at 33,359.05.

In New York, the Dow Jones industrial average was down 812.86 points at 48,091.92. The S&P 500 index was down 105.66 points at 6,775.96, while the Nasdaq composite was down 411.25 points at 22,337.61.

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The Canadian dollar traded for 72.94 cents US compared with 73.06 cents US on Monday.

This report by The Canadian Press was first published March 3, 2026.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

— With files from The Associated Press.