Mixed cues from Asian markets sent early ripples through western sectors, causing Canada’s main stock index to limp to a lower close on Tuesday. The tech sector led the decliners, riding a 13.6 per cent loss in Shopify’s share price. Only the utilities sector closed in a higher position.
Stocks on Wall Street were also dragged lower after a rare warning from Walmart that American consumers’ spending power is being seriously impacted by inflation. The consumer giant’s shares dropped 7.6 per cent after cutting its profit outlook for Q2 and the full year.
Today in the Markets
The Canadian dollar traded for 77.55 cents US compared to 77.89 cents US on Monday.
US crude futures traded 1.77 per cent lower at $94.99 a barrel, while the Brent contract lost 0.91 of a per cent to $104.20 a barrel.
The price of gold was down US$1.81 to US$1,717.77.
In world markets, the Nikkei was down 44.04 points to 27,655.21, the Hang Seng was up 342.94 points to 20,905.88, the FTSE was down 0.02 of a point to 7,306.28, and the DAX was down 113.39 points to 13,096.93.
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