NYSE:MOG.A News 30 January 2026

January 30, 2026, 6:38 PM EST. Canada's S&P/TSX Composite Index plunged nearly 1,100 points, or 3.3%, the largest drop since last year's volatility. The selloff followed President Donald Trump's announcement of former Fed governor Kevin Warsh as the next Federal Reserve chair, easing inflation and central bank independence concerns. Precious metals, which boosted the TSX's recent strong performance, fell sharply: gold dropped over US$650 to below US$4,700 an ounce, silver declined 28%. Major gold producers Barrick Mining and Agnico Eagle each fell over 10%. Other commodities also weakened: Cameco (uranium) down 6.6%, Lundin Mining (copper) 7.6%, and energy sector 1%. The U.S. market saw the S&P 500 fall 0.4%, with tech and materials stocks hit. Experts say Warsh's nomination reassures investors on Fed independence amid ongoing monetary policy uncertainty.