Canada’s main stock index closed out the week in the red on Friday in a broad decline. Energy and miners led the selloff among sectors as reduced demand saw commodities dropped while concerns are rising around global rate hikes. Health Care was one of the better performers.
Investors on Wall Street continue to stress over a looming economic downturn if the U.S. Federal Reserve’s policy moves get too aggressive to quell price pressures and starts affecting their bottom line. Markets closed lower and the blue-chip Dow Jones hit its weakest point of the year.
Europe’s Stoxx 600 Index entered bear market territory. The European equity benchmark sank 2.3 per cent, to the lowest level since December 2020. It is the last major regional index to cross into a bear market after the German DAX and the Euro Stoxx 50.
Today in the Markets
| TSX | 18,480.98 | -521.70 |  |
| TSXV | 578.06 | -24.88 | |
| CSE | 248.91 | -12.84 | |
| DJIA | 29,590.41 | -486.27 | |
| NASDAQ | 10,867.93 | -198.88 | |
| S&P 500 | 3,693.23 | -64.76 | |
The Canadian dollar traded for 73.62 cents US compared to 74.13 cents US on Thursday.
US crude futures traded 5.29 per cent lower at $79.07 a barrel, while the Brent contract lost 4.00 per cent to $86.46 a barrel.
The price of gold was down US28.64 to US$1,644.21.
In world markets, the Nikkei was down 159.30 points to 27,153.83, the Hang Seng was down 214.68 points to 17,933.27, the FTSE was down 143.90 points to 7,166.37, and the DAX was down 247.44 points to 12,284.19.
Get @ the Bell delivered to your email inbox every day!
DISCLAIMER: By viewing any material on or distributed by The Market Herald 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 Market Herald 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 The Market Herald or employees of The Market Herald may from time to time have positions in the stocks or other entities mentioned anywhere on The Market Herald 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. The Market Herald 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 The Market Herald and other Information Providers on an “as is” basis, and The Market Herald 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 The Market Herald 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.
