Markets jitter as oil spikes, trade tensions rise and tech giants unveil new moves
Oil prices broke $100 a barrel amid Middle East attacks, while the new Apple CEO prepares to launch the latest iPhone series and Meta introduced a personal AI assistant called Muse.
Brent crude surged above $100 a barrel after renewed hostilities in the Middle East, adding strain to global markets and the U.S. stock exchange. At the same time, Apple’s newly named chief executive is scheduled to unveil the company's upcoming iPhone models, signaling a major product launch. Meta launched Muse, a personal artificial-intelligence assistant designed with strong safety and privacy safeguards.
Trade relations between the United States and Canada grew more contentious, with the U.S. extending bans on Canadian dairy, alcohol and motorcycles, and President Trump asserting that U.S. banks are barred from operating in Canada—a claim that fact-checkers say is inaccurate. Additional headlines noted rising oil's impact on Wall Street, a costly theft of valuable Renoir paintings, and a cyclospora outbreak linked to declining FDA foreign inspections.
How this story developed
- Aug 22 Trump slaps 50% tariffs on Canadian imports, Canada vows matching retaliation
- Aug 26 President Trump posted a proposal to rename Lake Ontario.
- Aug 26 Retailers have begun removing U.S. wines and spirits from shelves as part of the boycott campaign.
- Aug 27 The United States began reviewing possible bans on Canadian imports under Section 338.
- Aug 28 Canada announced that its retaliatory duties will take effect on September 8.
- Aug 29 Canada set a 25% levy on certain American vehicles and matched the U.S. 50% level on steel and aluminium, also targeting plywood, screws and other timber items.
- Aug 31 Trump urged Canadian firms to relocate to the United States and labeled Canadian leadership the worst he has encountered.
- Aug 31 Mark Carney described the dispute as an attack and said Canada must respond as if at war.
- Sep 6 Canada announced it will re‑engage trade talks with the United States under industry safeguards.
- Sep 8 Reciprocal 50 percent tariffs took effect on both sides of the border.
- Sep 8 Carney announced a diversification agenda toward Europe and China and a new pipeline linking Alberta.
- Sep 9 U.S. administration announced bans on imports of Canadian dairy products, alcoholic beverages and motorcycles, set to take effect in three weeks.
- Sep 9 Prime Minister Carney publicly demanded an end to meme‑filled attacks amid the trade dispute.
- Sep 9 The United States added motor vehicles to the list of goods barred from import beginning at the end of the month.
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