With inflation concerns still at a boiling point, equities in Canada’s largest market dropped nearly 1 per cent on Wednesday as Treasury yields firmed ahead of key U.S. inflation data coming later this week. Disappointing results from Bank of Montreal (TSX:BMO) led the financials sector to a low not seen in a month.
U.S. stocks also slid in rocky trading as AI golden boy Nvidia Corp. (NDAQ:NVDA; NEO:NVDA) was one of the few to perform well, though the tech-heavy NASDAQ essentially gave up the gains it made in the previous session.
The Canadian dollar traded for 72.91 cents U.S. compared to 73.26 cents U.S. on Tuesday.
U.S. crude futures traded $0.43 lower at $79.40 a barrel, and the Brent contract lost $0.54 to $83.68 a barrel.
The price of gold was down US$16.13 to US$ 2,343.76.
In world markets, the Nikkei was down 298.50 points to 38,556.87, the Hang Seng was down 344.15 points to 18,477.01, the FTSE was down 71.11 points to 8,183.07, and the DAX was down 204.58 points to 18,473.29.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
(Top photo: File)