Canada’s main stock index sunk by triple digits on Thursday. A slight pullback in oil prices pressured energy shares, while the utilities market was the only one to move higher.
Healthcare shares slipped more than 3 per cent, with cannabis stocks including Canopy Growth, Tilray Brands, Aurora Cannabis down between 6 per cent and 4.8 per cent.
Investors await US inflation data due on Friday, hoping for clues on how the economy is faring amid tighter financial conditions.
US stock indexes also closed lower as rising bond yields pressured technology and growth stocks, as an entrée of interest rate hikes, followed up with surging inflation for dessert, snaped any risk appetite.
This followed data on the labour market that stated that the number of Americans filing new claims for unemployment benefits increased to the highest level in nearly five months last week.
Today in the Markets
| TSX | 20,563.89 | -228.54 |
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| TSXV | 711.88 | -12.31 |
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| CSE | 311.05 | -3.63 |
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| DJIA | 32,272.79 | -638.11 |
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| NASDAQ | 11,754.23 | -332.05 |
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| S&P 500 | 4,017.82 | -97.95 |
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The Canadian dollar traded for 78.77 cents US compared to 79.65 cents US on Wednesday.
US crude futures traded 0.71 per cent lower at $121.20 a barrel, while the Brent contract lost 0.56 per cent to $122.90 a barrel.
The price of gold was down $5.68 US to $1,847.05.
In world markets, the Nikkei was up 12.24 points to 28,246.53 the Hang Seng was down 145.54 points to 21,869.05 the FTSE was down 116.79 points to 7,476.21, and the DAX was down 247.19 points to 14,198.80.
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