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Markets Update: TSX Climbs, Brazil Crashes 14% as BoC Hike Looms (Oct. 27)

  Canada's main index gained ground Monday as softer oil and a rebound in tech lifted markets worldwide, but the real drama was in Brazil, where stocks plunged almost 14% in a single session. With the Bank of Canada and the Fed both deciding on rates Wednesday, traders are positioning for a big week. 🇨🇦 Canada: TSX Rebounds The S&P/TSX Composite closed at 35,944.16, up 155.98 points (+0.44%) , recovering from Friday's 35,788.18 close. Financials led the way (+0.81%), while energy edged up 0.44% even as crude slipped. The index remains about 2.7% below its late-August record of 36,957.63. The loonie slipped to roughly 71.3 US cents from 71.46 on Friday, as the U.S. dollar gained against most major currencies. Canada Close Change S&P/TSX Composite 35,944.16 ▲ +0.44% TSX Financials 754.94 ▲ +0.81% TSX Energy 493.87 ▲ +0.44% Canadian dollar (US¢) ~71.3 ▼ from 71.46 🇺🇸 United States: Tech Leads a Rebound Wall Street snapped back after two straight weekly losses. Oil...
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US Military Strikes Houthi Radar Sites in Yemen Following Merchant Sailor’s Disappearance

 

In a significant escalation of the ongoing conflict, the United States military has launched a series of attacks targeting radar sites operated by Yemen’s Houthi rebels. These strikes come in response to the rebels’ assaults on shipping in the crucial Red Sea corridor. The situation intensified after a merchant sailor went missing following an earlier Houthi strike on a ship.

The U.S. Navy, facing its most intense combat since World War II, aims to counter the Houthi campaign. However, the rebel assaults often endanger ships and sailors unrelated to the conflict, further disrupting cargo and energy shipments between Asia, Europe, and the Middle East.

Central Command reported that seven radars within Houthi-controlled territory were destroyed, preventing the rebels from targeting maritime vessels. Additionally, the U.S. military neutralized two bomb-laden drone boats and a Houthi-launched drone over the Red Sea.

The missing merchant sailor was aboard the Liberian-flagged bulk cargo carrier “Tutor,” which suffered a Houthi attack using a bomb-carrying drone boat. The crew was rescued, but the vessel remains in the Red Sea, slowly taking on water.

As the conflict continues, tensions remain high in the region, impacting global trade and security.

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