S&P/TSX composite down in late-morning trading, U.S. stocks also lower

A board above the trading floor of the New York Stock Exchange is shown in this image, Tuesday, July 1, 2025. (AP Photo/Richard Drew)

TORONTO - Canada鈥檚 main stock index edged lower Thursday while U.S. markets also lost ground as geopolitical concerns sent oil prices higher. 聽聽

Uncertainty continues over the U.S. war with Iran and when oil tankers will once again be able to freely exit the Persian Gulf. U.S. President Donald Trump threatened Iran with 鈥渢he MOST CRUSHING ECONOMIC OPERATION EVER TAKEN AGAINST ANY COUNTRY鈥 late Wednesday but provided few details. 聽

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