Canada’s main stock index opened lower, pressured by fresh weakness in commodity markets, including a two-month low for crude oil, as well lower than expected profit from Manulife.
The Toronto Stock Exchange’s S&P/TSX composite index was down 123.13 points, or 0.92 per cent, at 13,218.80 shortly after the close, including a 1.7 per cent drop in energy stocks.
U.S. stock indexes opened lower after weekly U.S. jobless claims data indicated the Federal Reserve could raise interest rates next month.
St. Louis Fed President James Bullard, a prominent hawk who is ready to increase rates, raised concerns of permanently low rates in industrial nations that could force a rethink of monetary policy.
The Dow Jones industrial average fell 68.81 points, or 0.39 percent, to 17,633.41. The S&P 500 lost 7.55 points, or 0.36 percent, to 2,067.45 and the Nasdaq Composite index dropped 22.73 points, or 0.45 percent, to 5,044.30.