As prospects of aggressive monetary tightening by central banks stoked concerns of a global economic slowdown, Canada’s main stock index snapped a seven-day winning streak on Tuesday. According to fresh official data, economic activity slowed further in China in May, while Canada’s economic growth was not as robust as expected in Q1, dragged down by lower export volumes.
US markets have sunk for most of the year, but the major indices finally clocked some strong gains in the previous session, thanks in part to bargain hunting. However, as traders returned from the Memorial Day long weekend, markets saw red with concerns regarding rising inflation.
| TSX | 20,729.34 | -190.06 |
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| TSXV | 720.98 | -16.85 |
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| CSE | 325.27 | +1.41 |
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| DJIA | 32,990.12 | -222.84 |
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| NASDAQ | 12,081.39 | -49.74 |
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| S&P 500 | 3,132.15 | -26.09 |
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The Canadian dollar traded for 79.07 cents US compared to 78.97 cents US on Monday.
Crude oil prices were up 0.11 to $115.20.
The price of gold was down 10.58 to $1,841.65.
In world markets, the Nikkei was down 89.63 points to 27,279.80 the Hang Seng was up 291.27 points to 21,415.20 the FTSE was up 7.60 points to 7,607.66, and the DAX was down 187.63 points to 14,388.35.