Today in the markets
U.S. stocks posted sharp losses Wednesday, as earnings disappointments from Bank of America and an Apple suppliers' tepid outlook punished New York markets.
Canadian stocks sold off as worries about global growth raised concerns about demand for commodities and sent prices for energy and metals lower.
The S&P/TSX Composite was down 172.63 points to 11,947.29, while the TSX Venture Exchange also eased 36.40 points to close at 923.60.
Active stocks included Apple Inc. (NASDAQ: AAPL, Stock Forum), which fell 5.5% to $402.80 after a supplier gave a weak forecast.
Bank of America Corp. (NYSE: BAC, Stock Forum) was down 4.7% to $11.70 after posting disappointing quarterly results.
In Canada, the base metals component led decliners as copper, viewed as an economic bellweather, slid 12 cents to US$3.19 a pound.
Teck Resources Ltd. (TSX: T.TCK.A, Stock Forum) (TSK: T.TCK.B, Stock Forum) (NYSE: TCK, Stock Forum) fell 5% to $25.42, while First Quantum Minerals Ltd. (TSX: T.FM, Stock Forum) declined $9.4% to $15.43.
Despite a slight bounce in the bullion price, investors continued to bail out of Barrick Gold Corp. (TSX: T.ABX, Stock Forum) (NYSE: ABX, Stock Forum), sending the world’s leading gold producer, down 5.6% to $18.17.
For news about small stocks that made big moves in Wednesday’s trading, please read the
Stockhouse Canadian Small and Micro-cap Stock Report