Canada’s main stock index sunk on Tuesday, reflecting the severe global market selloff it missed in the previous session because of the holiday closure. This drop was driven by recession worries in the United States, pushing heavyweight markets lower. The industrials sector led the widespread declines on the TSX, followed by the financial and mining sector.
U.S. markets rebounded after the broad indexes experienced their worst day in almost two years during Monday’s trading. Confidence about the economy’s condition is waning, causing volatility.
The Canadian dollar traded for 72.59 cents U.S. compared with 72.11 cents U.S. on Friday.
U.S. crude futures traded $0.12 higher at $73.06 a barrel, and the Brent contract added $0.03 to $76.33 a barrel.
The price of gold was down US$16.59 to US$2,387.99.
In world markets, the Nikkei was up 3,217.04 points to 34,675.46, the Hang Seng was down 51.02 points to 16,647.34, the FTSE was up 18.46 points to 8,026.69, and the DAX was down 17.72 points to 17,321.28.
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 image: File)