Hindered by a selloff in energy and materials shares, Canada’s main stock index sunk on Wednesday, losing ground from sagging commodity prices. Tech shares provided most of the gains on the TSX. Traders looked to the latest Federal Reserve meeting minutes to gauge the outlook on global interest rates, but only found the report indicated strong worries over lack of progress made on cooling inflation.
U.S. stocks also tumbled as investors looked ahead to the highly anticipated release of AI chipmaker Nvidia’s latest quarterly earnings report, due after the closing bell.
The Canadian dollar traded for 73.03 cents U.S. compared with 73.47 cents U.S. on Tuesday.
U.S. crude futures traded $1.31 lower at $77.35 a barrel, and the Brent contract lost $1.20 to $81.68 a barrel.
The price of gold was down US$42.57 to US$2,379.07.
In world markets, the Nikkei was down 329.83 points to 38,617.10, the Hang Seng was down 25.02 points to 19,195.60, the FTSE was down 46.12 points to 8,370.33, and the DAX was down 46.56 points to 18,680.20.
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