Though energy and health care shares moved the needle a little higher, Canada’s main stock index closed lower on Monday thanks to declines across the rest of the sectors. However, utilities also closed in the green.
The selloff on Wall Street continued following Friday’s 1,000-point drop in the Dow Jones Industrial Average. Worries persist over the U.S. Federal Reserve’s plan to keep raising interest rates as it fights inflation even in the face of an economic slowdown.
Today in the Markets
The Canadian dollar traded for 76.88 cents US compared to 76.73 cents US on Friday.
US crude futures traded 4.15 per cent higher at $96.92 a barrel, while the Brent contract gained 3.85 per cent to $104.90 a barrel.
The price of gold was up US$2.00 to US$1,736.94.
In world markets, the Nikkei was down 762.42 points to 27,878.96, the Hang Seng was down 146.82 points to 20,023.22, the FTSE was down 52.43 points to 7,427.31, and the DAX was down 78.48 points to 12,892.99.
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