S&P/TSX Composite Falls as U.S.-Iran Negotiations Stall

Canadian stocks declined on June 1, 2026, after U.S.-Iran nuclear talks hit a roadblock, sapping risk appetite. The S&P/TSX Composite Index shed 0.3% to close at 21,450.78, with energy and financials pacing the retreat. Diplomatic sources said negotiations in Vienna reached an impasse as Iran rejected a U.S. proposal to extend caps on enriched uranium, reviving concerns over renewed sanctions. The breakdown triggered a broader flight to safety, lifting gold and crude oil prices while weighing on equities globally. The Toronto market’s drop mirrored losses on Wall Street, where the S&P 500 also edged lower. Analysts warned that prolonged tensions could further disrupt commodity markets and strain Canadian export sectors.