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S&P/TSX composite down more than 300 points, U.S. stock markets also fall
Statistics Canada said inflation rose to 3% in July as higher oil prices lifted energy costs and pressured markets.
- Canada's main stock index dropped more than 300 points on Tuesday, closing at 36,363.00 amid broader losses in base metals, technology, and financial sectors.
- Statistics Canada reported Monday that annual inflation rose to three per cent last month, up from 2.8 per cent in June, driven primarily by global energy volatility.
- The October crude oil contract rose 45 cents US to US$84.19 per barrel, providing energy sector gains that partially offset broader market losses.
- A U.S. government plan to impose a 50 per cent tariff on roughly US$20 billion in Canadian goods takes effect Wednesday, though economist Étienne Bergeron at iA Financial Group said markets are "pretty much ignoring" the deadline.
- Bergeron noted that lower trading volume during mid-Aug remains a factor investors should consider when evaluating market movements, cautioning against overinterpreting current price swings.
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The Toronto Star+4 Reposted by 4 other sources
TSX down more than 50 points despite commodity gains, while U.S. markets slide
TORONTO - Canada’s main stock index finished in negative territory, as gains from higher commodity prices were offset by broader losses, while U.S. markets were negative.
·Toronto, Canada
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S&P/TSX composite down more than 50 points, U.S. stock markets negative
TORONTO — Canada’s main stock index finished in negative territory, as gains from higher commodity prices were offset by broader losses, while U.S. markets were negative. The S&P/TSX composite index was down 62.35 points at 36,667.92.
The Toronto Stock Exchange closed Monday's session with a 0.17 per cent loss, with gains in the commodity sectors offset by widespread declines, while major U.S. indices declined.
·Montreal, Canada
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Total News Sources9
Leaning Left5Leaning Right0Center3Last UpdatedBias Distribution63% Left
Bias Distribution
- 63% of the sources lean Left
63% Left
L 63%
C 37%
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