Shaken

• Wall Street closed lower as oil prices surged, though the market still recorded overall gains for the month of August. • Brent crude experienced its strongest single-day increase since late July, driven by the resumption of military strikes between the U.S. and Iran. • Separate economic discussions highlight arguments that a significant appreciation of the Chinese yuan could reduce global imbalances and financial instability.

• The TSX closed 0.8% lower as escalating tensions between the U.S. and Iran weighed on investor sentiment, though the index maintained its fifth-month gain. • Brent crude oil prices surged, recording their strongest single-day performance since late July following the resumption of military strikes between the U.S. and Iran. • Separately, economists are debating whether a significant appreciation of the Chinese yuan is necessary to reduce global economic instability and fix China's massive trade surplus.

Earthquake was region’s strongest tremor in nearly 150 years and was also felt in parts of Mexico including CancúnAn earthquake on Monday off the coast of Cuba, which was that region’s strongest tremor in nearly 150 years, could be felt in Florida and parts of Mexico.The 6.1-magnitude earthquake, which struck in the afternoon, occurred approximately 65 miles (105km) north-west of Mantua, Cuba, according to the US Geological Survey (USGS). The USGS added that the earthquake had a depth of 16 miles. Continue reading...