There wasn’t much “green” to be seen this St. Patrick’s Day for domestic stock markets. Canada’s main stock index fell on Friday, dragged down by losses in financial stocks as the world continues to grapple with the collapse of several banks over the last week. Gold continues to be the haven of choice for traders to keep their money safe.
US markets remain on alert after banks join forces to rescue First Republic after its shares crashed. The parent of Silicon Valley Bank, which was taken over by Californian regulators a week ago, filed for Chapter 11 bankruptcy protection. The Dow essentially erased its gains from the previous session.
Today in the Markets
The Canadian dollar traded for 72.83 cents US, compared to 72.86 cents US on Thursday.
US crude futures traded $2.15 lower at $66.20 a barrel, and the Brent contract lost $2.27 to $72.43 a barrel.
The price of gold was up 54.72 to US$1,976.13.
In world markets, the Nikkei was up 323.18 points to 27,333.79, the Hang Seng was up 314.68 points to 19,518.59, the FTSE was down 74.63 points to 7,335.40, and the DAX was down 198.90 points to 14,768.20.