Unfortunately, Canadian indexes have reverted back to a losing trend, with the TSX dropping 91.99 points shortly after the market opened.
The energy sector saw a large downturn alongside the announcement of the Canadian government blocking Glencore Plc’s proposed coal mine in B.C. due to environmental risks. Battery metals continued to keep its head above water.
South of the border, US markets emulated the same downward trend, with nearly every major index sitting in the red. The markets saw a significant loss after a recent report showed that the US economy grew faster than expected, which fuelled the fear of more interest rates following suit.
Today in the Markets
The Canadian dollar traded for 73.30 cents US, compared to 73.50 cents US on Wednesday.
US crude futures traded $0.27 lower at $78.20 a barrel, and the Brent contract went down by $0.78 to $81.58 a barrel.
The price of gold was down US$23.13 to US$1,791.42.
In world markets, the Nikkei was up 12015 points to 26,507.87, the Hang Seng was up 518.73 points to 19,679.22, the FTSE was down 28.04 points to 7,469.28, and the DAX was down 183.75 points to 13,914.07.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.
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