Canada’s main stock index slipped on Monday. Prime Minister Justin Trudeau called for an early election on Sept. 20. While most sectors moved lower, the tech and utilities sectors manage to offset some losses.
Unnerving data from China sparked fears of slowing global growth and hurt shares of sectors that are closely linked to the health of the US economy, causing the Dow and S&P 500 to slip from record highs. However, the Dow made a comeback from a nearly 300-point dive by midday. The impact of the fast-spreading COVID Delta variant and knocking down prices of oil and other commodities is reflected in the data, which showed that retail sales, industrial production, and urban investment in China all missed forecasts.
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The Canadian dollar traded for 79.52 cents US compared with 79.91 cents US on Friday.
Crude oil prices were down $0.95 to $67.49.
The price of gold was up 8.79 to $1,787.38.
In world markets, the Nikkei was down 453.96 points to 27,523.19, the Hang Seng was down 210.16 points to 26,181.46 the FTSE was down 64.73 points to 7,153.98 and the DAX was down 51.71 points to 15,925.73.
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