Canada’s main stock index posted a triple digit decline by Friday’s close thanks to losses in the technology and base metal sectors. The telecom and utilities sectors were the only ones to see an increase.
Wall Street also fell with megacap growth and tech stocks leading a broader market selloff.
The latest data from the Labor Department suggested market conditions remain tight as rate hike worries sapped risk appetite.
Shares of Axsome Therapeutics surged 40 per cent after it gained U.S. approval for its treatment for depression, which it expects to launch in Q4.
Today in the Markets
The Canadian dollar traded for 76.94 cents US compared to 77.31 cents US on Thursday.
US crude futures traded 0.20 per cent higher at $90.32 a barrel, while the Brent contract lost 0.57 per cent to $96.04 a barrel.
The price of gold was down US$11.45 to US$1,746.73.
In world markets, the Nikkei was down 11.81 points to 28,930.33, the Hang Seng was up 9.12 points to 19,773.03, the FTSE was up 8.52 points to 7,550.37, and the DAX was down 152.89 points to 13,544.52.
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