It was a red start to September for many markets around the world. Oil prices sunk to levels not seen since before Russia’s Ukraine invasion. Canada’s main stock index closed lower as losses in the energy, technology, and base metal sectors led a broad-based decline. Telecom shares were higher.
US markets struggled following a weaker-than-expected reading on the US jobs market. However, new data showed that US manufacturing activity growth held up in August after slowing in the previous two months, and a manufacturing survey indicated an easing of price pressures in factories.
Today in the Markets
The Canadian dollar traded for 75.95 cents US compared to 76.20 cents US on Wednesday.
US crude futures traded 3.55 per cent lower at $86.37 a barrel, while the Brent contract lost 3.75 per cent to $92.05 a barrel.
The price of gold was down US$13.19 to US$1,695.27.
In world markets, the Nikkei was down 430.06 points to 27,661.47, the Hang Seng was down 357.08 points to 19,597.31, the FTSE was down 136.68 points to 7,147.47, and the DAX was down 204.73 points to 12,630.23.
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