Canada’s main stock index was down more than 200 points by Monday’s close, hurt by declines in the energy, technology, and financial sectors. Elevated government bond yields dented rate-sensitive technology shares, while investor focus shifted to the Bank of Canada’s interest rate meeting due later this week.
U.S. futures were also weighed down primarily by losses in the oil and gas, tech, and utilities sectors. The European Union and the Group of Seven democracies agreed to boycott most Russian oil and committed on a $60 a barrel price cap of on Russian exports. Losses were somewhat mitigated by gains among the basic materials, consumer goods, and industrials sectors.
Today in the Markets
The Canadian dollar traded for 73.59 cents US, compared to 74.26 cents US on Friday.
US crude futures traded $2.60 lower at $77.38 a barrel, while the Brent contract lost $2.51 to $83.06 a barrel.
The price of gold was down US$31.18 to US$1,767.67.
In world markets, the Nikkei was up 42.50 points to 27,820.40, the Hang Seng was up 842.94 points to 19,518.29, the FTSE was up 11.31 points to 7,567.54, but the DAX was down 81.78 points to 14,447.61.
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