Canada’s main stock index plunged on Tuesday, tracking a global risk-off mood as investors locked in profits, while the market assessed the country’s latest budget proposal. Prime Minister Mark Carney unveiled the new budget that will roll out a major stimulus to wean the country off its reliance on the US.
US markets also sank, pressured by declines in artificial intelligence-related names like Palantir (NASDAQ:PLTR) as investors grow increasingly concerned about valuations in the bull market-leading shares.
| TSX | 29,777.82 | -497.24 |  |
| TSXV | 888.87 | -44.30 | |
| CSE | 165.61 | -6.64 | |
| DJIA | 47,085.24 | -251.44 | |
| NASDAQ | 23,348.64 | -486.09 | |
| S&P 500 | 6,771.55 | -80.42 | |
The Canadian dollar traded for 70.91 cents US compared to 71.15 cents US on Monday.
US crude futures traded $0.61 lower at US$60.44 a barrel, and the Brent contract lost $0.54 to US$64.35 a barrel.
The price of gold was down US$62.61 to US$3,938.82.
In world markets, the Nikkei was down 914.14 points to ¥51,497.20, the Hang Seng was down 205.96 points to HK$25,952.40, the FTSE was up 13.59 points to ₤9,714.96, and the DAX was down 183.30 points to €23,949.11.
Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here.