Canadian stocks fell on Tuesday as climbing global bond yields and falling precious metal prices reduced investors’ appetite for risk. While higher oil prices helped offset some of the market weakness, concerns remain that energy costs linked to the Iran conflict could place additional pressure on the global economy. At the same time, many nations continue to battle inflation through higher interest rates.
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US markets also opened September in the red, as rising oil prices and inflation concerns pushed bond yields higher across global markets. The increase in yields renewed worries that the Federal Reserve may choose to tighten monetary policy further later this month.
| TSX | 35,825.73 | -444.75 |  |
| TSXV | 956.66 | -25.85 | |
| CSE | 165.96 | +1.39 |  |
| DJIA | 52,766.88 | -419.02 | |
| NASDAQ | 26,099.77 | -271.11 | |
| S&P 500 | 7,631.47 | -54.67 | |
The Canadian dollar traded for 71.97 cents US compared to 72.16 cents US on Monday.
US crude futures traded US$4.80 higher at US$90.56 a barrel, and the Brent contract rose US$4.62 to US$95.11 a barrel.
The price of gold was down US$102.54 to US$4,327.88.
In world markets, the Nikkei was down 96.59 points to ¥66,215.34, the Hang Seng was down 237.26 points to HK$25,329.73, the FTSE was down 39.17 points to ₤10,785.09, and the DAX was down 288.00 points to €25,970.11.
