Canada’s main stock index gave up some of its recent gains on Tuesday, as all major indices fell, led by the financial sector. Data showed that consumer inflation unexpectedly accelerated in April, the first time in 10 months.

US markets were split as traders took stock of underwhelming forecasts from retailers and a meeting between congressional leaders and President Joe Biden on the debt ceiling. The deal to raise the debt ceiling before June 1st is the earliest date the Treasury Department has said the U.S. could default on its debt obligations. Last week, Treasury Secretary Janet Yellen said that not signing a deal could spur an “economic catastrophe.”

S&P 5004,111.36-24.82S&P 500

The Canadian dollar traded for 74.23 cents US, compared to 74.24 cents US on Monday.

US crude futures traded $0.44 lower at $70.67 a barrel, and the Brent contract lost $0.50 to $74.73 a barrel.

The price of gold was down US$24.07 to US$ 1,990.38.

In world markets, the Nikkei was up 216.65 points to 29,842.99, the Hang Seng was up 7.12 points to 19,978.25, the FTSE was down 30.99 points to 7,746.71, and the DAX was down 19.31 points to 15,897.93.

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