Markets whipsaw on US-Israel-Iran war

Melisa R. H. Posted On March 9, 2026

The ongoing war plunged Asian markets and North American futures deep into the red Sunday overnight, leaving New York and Toronto to open on Monday down 2%, but finishing the session in the green. The S&P gained 0.81%, the Dow 0.61%, the Nasdaq 1.32% and the TSX 0.3% to return above 33,000 points. In the morning, WTI soared past US$115 a barrel, but by the closing below sank nearly 6% to US$85.55 a barrel. Gold slipped US$32 to US$5,140, while silver jumped 2.5% US$86.45. It’s anyone’s guess when oil will flow the Strait of Hormuz again.

In Toronto, seven sectors rose, led by strong gains in tech while healthcare and financials were among the laggards. Celestica soared 8.07%, Methanex 6.53%, Kinaxis 6.22%, Suncor 1.11% and Badger Infrastructure -3.55%. In New York, Sandisk rallied 10.42%, Nvidia 2.27%, Intel 4.56%, Paramount Skydance -5.8% and Valero -4.08%. Bitcoin climbed 2.6% to US$68,970. The U.S. 10-year yield held at 4.1%.