Canada’s main stock index tumbled on Tuesday as mining and energy shares were pulled under by concerns about overseas demand.

Crude oil prices slid after trade data from China, a top consumer, pointed to continued weakness in demand for the country’s products during the January-February period.

US stocks also sold off sharply after Federal Reserve Chair Jerome Powell suggested to Congress that rates may need to go higher for longer, fuelling fears of a potentially larger rate hike at the central bank’s next policy meeting.

Today in the Markets

TSX 20,275.54 -239.26 TSX
TSXV 626.81 -10.95 TSXV
CSE 198.15 +1.67 TSXV
DJIA 32,856.46 -574.98 DJIA
NASDAQ 11,530.33 -145.40 NASDAQ
S&P 500 3,986.45 -61.97 S&P 500

The Canadian dollar traded for 72.75 cents US, compared to 73.43 cents US on Monday.

US crude futures traded $3.05 lower at $77.41 a barrel, and the Brent contract lost $2.96 to $83.22 a barrel.

The price of gold was down 31.03 to US$1,815.36.

In world markets, the Nikkei was up 71.38 points to 28,309.16, the Hang Seng was down 68.71 points to 20,534.48, the FTSE was down 10.31 points to 7,919.48, and the DAX was down 94.05 points to 15,559.53.

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