Canada’s main stock index was down by triple digits come Wednesday’s close, amid losses in the energy, base metal, and technology sectors. Telecom and industrials moved higher.
US stock index futures struggled after several Federal Reserve policymakers made a case for quicker interest rate hikes to douse inflation as a string of recent data continued to paint a bleak picture for the economy.
Recent data exposed the contraction of the US economy in Q1 2022 in the face of a record trade deficit and followed another report that showed U.S. consumer confidence hitting a 16-month low.
Today in the Markets
The Canadian dollar traded for 77.55 cents US compared to 77.65 cents US on Tuesday.
US crude futures traded 2.09 per cent lower at $109.40 a barrel, while the Brent contract lost 2.21 per cent to $115.40 a barrel.
The price of gold was down US$0.51 US to $1,818.03.
In world markets, the Nikkei was down 244.87 points to 26,804.60 the Hang Seng was down 422.08 points to 21,996.89, the FTSE was down 11.09 points to 7,312.32, and the DAX was down 228.47 points to 13,003.35.
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