Canadian Stocks Rise After Trump Extends Deadline For Iran To Reopen The Strait Of Hormuz
Adedokun Waliyu
1 min read
A cargo ship carrying vehicles sails through the Arabian Gulf toward the Strait of Hormuz in the United Arab Emirates, Sunday, March 22, 2026. (AP Photo)
Canada’s main stock index gained nearly 700 points in late-morning trading, while U.S. stock markets also rallied after U.S. President Donald Trump extended his deadline for Iran to reopen the Strait of Hormuz.
Trump also held out the possibility of a resolution to the war — though Iranian officials denied there were negotiations.
The S&P/TSX composite index was up 686.29 points at 32,003.70.
In New York, the Dow Jones industrial average was up 1,078.87 points at 46,656.34. The S&P 500 index was up 132.76 points at 6,639.24, while the Nasdaq composite was up 476.92 points at 22,124.53.
The Canadian dollar traded for 72.96 cents US compared with 72.90 cents US on Friday.
The May crude oil contract was down US$12.04 at US$86.19 per barrel, while the April gold contract was down US$95.20 at US$4,479.70 an ounce.
