The TSX opened sharply lower Tuesday, mirroring global weakness as gold prices plunged more than 5% in their steepest single-day drop in over a decade. The selloff in safe-haven assets weighed heavily on miners, dragging Canada’s main index down nearly 2%.
South of the border, markets were mixed following a volatile night of earnings. Netflix shares fell after missing profit expectations, blaming sluggish growth in Brazil, while Beyond Meat staged a dramatic short squeeze, soaring more than 140% as retail traders piled in.
Market numbers
TSX: Down (1.73%), 29,888.82
TSXV: Down (0.91%), 897.05
DOW: Down (0.16%), 46,849.83
NASDAQ: Down (0.06%), 25,127.13
FTSE: Up (0.18%), 9,451.00
In the headlines
- Netflix misses earnings expectations – Netflix (NDAQ:NFLX) shares dropped after the streaming giant posted weaker-than-expected quarterly results, citing economic strain and weaker ad revenue in Brazil as key headwinds.
- Beyond Meat surges 146% – Beyond Meat (NDAQ:BYND) rocketed nearly 150% as retail traders initiated a short squeeze, echoing the meme stock rallies of 2021. The company’s massive upside move came despite ongoing financial uncertainty.
Currencies
USD: Up (0.04%), $0.7131
GBP: Up (0.34%), $0.5347
EUR: Up (0.11%), $0.6151
JPY: Up (0.10%), ¥108.42
Bitcoin: Down (0.52%), US$107,800.49
(Conversion to C$1)
Commodities
Copper: Up (0.82%), 5.0349
Gold: Down (1.67%), 4,055.90
WTI: Up (1.74%), 58.95
Natural Gas: Up (0.34%), 3.53
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