The Globe and Mail reports in its Friday edition that stocks and commodities fell Thursday while bond yields rose, in a trading session that reflected concerns the Middle East conflict will continue to throttle energy exports, stoking fears of rising inflation and deteriorating economic activity. A triple-bylined item led by David Berman says the S&P 500 closed at 6,606.49, sinking it deeper into negative territory for 2026. Since the United States and Israel attacked Iran at the end of February, the blue-chip index has fallen 4 per cent and is now down 5.7 per cent from its record high at the end of January. Canadian stocks fared far worse Thursday, as gold, silver and copper fell, and pulled down commodity producers. The S&P/TSX Composite Index closed at 31,854.98, down 457.69. The benchmark is down about 8 per cent from its recent high. While energy stocks have rallied with surging crude oil prices over the past two weeks, materials stocks composed largely of base and precious metals producers -- have slumped more than 14 per cent over the past five days alone. Gold fell 5.1 per cent, to $4,644.80 an ounce. Bond yields have been rising with inflation expectations which could lead to higher interest rates.