Markets across the globe fell deep into the red on Thursday, despite a solid post-Fed rally in the previous session.
Weakness among energy shares dragged Canada’s main stock index to its lowest level in more than a year while growth shares bared the brunt of the selloff on Wall Street.
While the US reports inflation not seen since 1981, the Federal Open Market Committee moved to increase the target range for the federal funds rate by 0.75 percentage points (the largest increase since 1994). The Department of Labor reported that the number of seasonally adjusted initial jobless claims decreased to 229,000 in the week ending June 10th.
Today in the Markets
| TSX | 19,004.06 | -607.50 |
 |
| TSXV | 639.55 | -16.10 |
|
| CSE | 284.70 | -6.00 |
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| DJIA | 29,927.07 | -741.46 |
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| NASDAQ | 10,646.10 | -453.06 |
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| S&P 500 | 3,666.78 | -123.21 |
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The Canadian dollar traded for 77.38 cents US compared to 77.69 cents US on Wednesday.
US crude futures traded 1.75 per cent higher at $117.30 a barrel, while the Brent contract gained 0.84 per cent to $119.50 a barrel.
The price of gold was up US$17.99 US to $1,851.73.
In world markets, the Nikkei was up 105.04 points to 26,431.20 the Hang Seng was down 462.78 points to 20,845.43 the FTSE was down 228.43 points to 7,044.98, and the DAX was down 446.80 points to 13,038.49.
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