NYSE:CX News 6 January 2026

January 30, 2026, 4:20 PM EST. Canada's main stock index, the S&P/TSX composite, dropped nearly 1,000 points to 32,023.76 on Friday. The sell-off followed U.S. President Trump's announcement of Kevin Warsh as his nominee for Federal Reserve chair, signaling a potentially more hawkish stance. Warsh's nomination strengthened the U.S. dollar and triggered a sharp decline in precious metals, with April gold futures plunging US$348.80 to US$5,006 an ounce. Allan Small, senior investment adviser at iA Private Wealth, noted this decline was notable as metals priced in U.S. dollars often act as hedges. In New York, major indexes including the Dow and Nasdaq also fell. The Fed's upcoming leadership will significantly impact interest rate policies and global markets.