The TSX opened lower Tuesday as global markets slid, dragged down by weakness in tech and renewed concerns that an AI-driven bubble may be forming. U.S. equities also struggled at the open, with investors cautious ahead of key jobs data that could sway expectations for future interest-rate cuts.
Market sentiment was further rattled by a sharp drop in Bitcoin, which fell below US$90,000 for the first time in seven months.
Market numbers
TSX: Down (0.44%), 29,942.96
TSXV: Down (0.64%) 854.14
DOW: Down (1.15%), 46,053.29
NASDAQ: Down (1.17%), 24,509.13
FTSE: Down (0.19%), 9,673.50
In the headlines
- Klarna revenue jumps – Klarna Group PLC (NYSE:KLAR) reported a sharp surge in revenue as its longer-term loan book more than doubled, signalling strong demand for instalment-based credit as consumers navigate tighter economic conditions.
- Intuit gains on OpenAI partnership – Intuit Inc (NDAQ:INTU) shares climbed after the company announced a US$100 million deal with OpenAI, giving its financial apps access to advanced AI models and integrating Intuit’s products directly into ChatGPT.
Currencies
USD: Up (0.27%), $0.7130
GBP: Up (0.28%), $0.5497
EUR: Up (0.21%), $0.6148
JPY: Down (0.22%), ¥110.689
Bitcoin: Down (0.41%), US$91,721.99
(Conversion to C$1)
Commodities
Copper: Down (0.19%), 5.0447
Gold: Up (0.38%), 4,060.25
WTI: Down (0.24%), 59.638
Natural Gas: Down (2.25%), 4.251
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