TSX Lands Hard
The TSX Composite Index dropped 1.6% to 35,083.56, driven by declines in financials and resources. Royal Bank of Canada fell 1.8% and Toronto-Dominion Bank lost 2.8%. Investors anticipate a rate hike by the Bank of Canada. U.S. stocks also fell, with the Dow, S&P 500, and Nasdaq declining. Treasury yields rose to multi-decade highs, impacting bank and tech stocks.

