It was a rough start to the week for markets on Bay Street and Wall Street on Monday, as investors braced for the start of the earnings season.
A broad decline led by the metals sector took a major bite out of Canada’s main stock index, with losses from the tech and energy sectors weakening the exchange further.
Sponsored by
Technology shares sunk as fears grew over a potential economic slowdown in the face of looming interest rate hikes.
After China’s commercial hub, Shanghai braced for another mass testing campaign and multiple other cities adopted COVID-19 curbs, crude prices declined as fast as fear grew about supply and demand.
Big banks are due to post earnings later this week, and their results will be combed over by traders for any signs of slowing economic growth.
Today in the Markets
| TSX | 18,816.80 | -206.06 |  |
| TSXV | 606.38 | -9.00 | |
| CSE | 262.70 | -4.53 | |
| DJIA | 31,173.84 | -164.31 | |
| NASDAQ | 11,372.60 | -262.71 | |
| S&P 500 | 3,854.44 | -44.94 | |
The Canadian dollar traded for 76.92 cents US compared to 77.19 cents US on Friday.
US crude futures traded 1.05 per cent lower at $103.70 a barrel, while the Brent contract lost 0.32 per cent to $106.70 a barrel.
The price of gold was down US$10.40 US to $1,739.90.
In world markets, the Nikkei was up 295.11 points to 26,812.30 the Hang Seng was down 601.58 points to 21,124.20, the FTSE was up 0.35 of a point to 7,196.59, and the DAX was down 182.79 points to 12,832.44.
Get @ the Bell delivered to your email inbox every day!
DISCLAIMER: By viewing any material on or distributed by The Market Herald Publishing Ltd. and its Information Providers you agree to both the following disclaimer, and the full disclaimer that can be viewed here.
Any holdings, theories, speculation or trades appearing anywhere on The Market Herald network of websites should not be relied upon for purposes of transacting securities or other investments, nor should they be construed as an offer or solicitation of an offer to sell or buy any security. This applies to any material regardless of source, placement, presentation or reproduction. Any Information Providers to The Market Herald or employees of The Market Herald may from time to time have positions in the stocks or other entities mentioned anywhere on The Market Herald Network of websites. You bear responsibility for your own investment research and decisions and should seek the advice of a qualified securities professional before making any investment. The Market Herald and its contributors makes no guarantee as to the validity of any information, speculation, theories or research presented herein whether pertaining to the past, present or future. The Service and The Materials are provided by The Market Herald and other Information Providers on an “as is” basis, and The Market Herald and other Information Providers expressly disclaim any and all warranties, express or implied, including, without limitation, warranties of satisfactory quality and fitness for a particular purpose, with respect to the service or any materials and products. In no event shall The Market Herald and other Information Providers be liable for any direct, indirect, incidental, punitive, or consequential damages of any kind whatsoever with respect to The Service, The Materials, and The Products.
