The TSX ended Thursday trading further into the red, giving back 1.1 per cent in a broad-based drop, with investors spooked by the price of oil crossing the crucial US$100 per barrel threshold. The index suffered the most pronounced losses in industrial, mining and utility stocks.
This article is a journalistic opinion piece which has been written based on independent research. It is intended to inform investors and should not be taken as a recommendation or financial advice.
US stocks followed their Canadian counterparts in their descent, including major chip makers Intel, Micron and NVIDIA, as concerns about rising oil prices, prolonged unrest in the Middle East and ensuing inflation stoke fears about an economic slow-down that push upcoming midterm elections squarely into view, after which, according to a recent statement from US President Trump, his administration’s war with Iran will come to an immediate end.
| TSX | 35,506.28 | -400.28 |  |
| TSXV | 930.88 | -26.10 | |
| CSE | 175.41 | -2.28 | |
| DJIA | 52,064.10 | -316.56 | |
| NASDAQ | 26,081.72 | -171.62 | |
| S&P 500 | 7,591.70 | −44.66 | |
The Canadian dollar traded for US$0.7228, down from US$0.7242 on Wednesday.
US crude futures traded US$7.80 higher to US$103.85 per barrel, while the Brent contract traded US$1.24 higher to US$108.87 per barrel.
The price of gold was down by US$102.60 to US$4,358.10 per ounce.
In world markets, the Nikkei added 128.17 points to 65,270.95, the Hang Seng fell by 320.49 points to 24,954.47, the FTSE gave back 61.14 points to 10,608.92, while the Dax fell by 215.30 points to 25,361.15.
Join the discussion: Find out what investors are saying about US$100 oil and Thursday’s market close on Stockhouse’s stock forums and message boards.