Canada’s resource-heavy main stock index fell on Wednesday as weakness in oil and metal & mining prices weighed on commodity stocks amidst growing fear of a global recession.
The energy sector dropped again, this time over 4 per cent, as oil prices gave up early gains in volatile trade to extend Tuesday’s heavy losses as fears over an economic downturn outweighed supply concerns.
Sponsored by
U.S. crude prices were down 3.1 per cent a barrel, while Brent crude lost 2.7 per cent.
The materials sector, which includes precious and base metals miners and fertilizer companies, dropped 1.6 per cent in value as copper prices tumbled to their lowest in almost 20 months.
Today in the Markets
| TSX | 18,729.66 | -104.50 |
 |
| TSXV | 602.35 | -13.59 |
|
| CSE | 268.31 | +2.36 |
 |
| DJIA | 31,037.68 | +69.86 |
|
| NASDAQ | 11,361.85 | +39.61 |
|
| S&P 500 | 3,845.08 | +13.69 |
|
The Canadian dollar traded for 76.58 cents U.S. today, compared with U.S. 76.57 cents on Tuesday.
US crude futures traded 1.16 per cent lower at $98.35 a barrel, while the Brent contract lost 2.14 per cent to $100.60 a barrel.
The price of gold was down $30.80 to $1,733.20, or about 1.75 per cent.
In world markets, the Nikkei was down 166.87 points to 26,256.60, the Hang Seng was down 266.41 points to 21,586.66, the FTSE was up 126.23 points to 7,149.99, and the DAX was up 263.80 points to 12,667.60.
Get @ the Bell delivered to your email inbox every day!
DISCLAIMER: By viewing any material on or distributed by Stockhouse 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 Stockhouse 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 Stockhouse or employees of Stockhouse may from time to time have positions in the stocks or other entities mentioned anywhere on the Stockhouse 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. Stockhouse 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 Stockhouse and other Information Providers on an “as is” basis, and Stockhouse 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 Stockhouse 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.