Losses in the energy and technology sectors helped push Canada’s main stock index to a steep decline on Tuesday. The mining sector was the only bright spot for traders who remain wary ahead of an interest rate decision from the Bank of Canada this week.
U.S. stocks also lost ground as traders ponder the Federal Reserve’s next moves in its campaign to cool stubbornly hot inflation as a services gauge unexpectedly rose. After posting two straight weekly gains, the major indexes were on pace for a weekly loss.
Today in the Markets
The Canadian dollar traded for 73.24 cents US, compared to 73.59 cents US on Monday.
US crude futures traded $2.60 lower at $74.33 a barrel, while the Brent contract lost $3.10 to $79.58 a barrel.
The price of gold was up US$1.92 to US$1,771.31.
In world markets, the Nikkei was up 65.47 points to 27,885.87, the Hang Seng was down 77.11 points to 19,441.18, the FTSE was down 47.38 points to 7,721.73, and the DAX was down 104.42 points to 14,343.19.
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