S&P/TSX composite falls to 3-month low on fears about slowing economic growth
Global News
The S&P/TSX composite index closed down 321.08 points or 1.5 per cent to 20,690.81.
TORONTO — Canada’s main stock index lost more than 300 points as a big drop in the technology sector drove it to its lowest level in three months on ongoing concerns about slowing global economic growth.
The S&P/TSX composite index closed down 321.08 points or 1.5 per cent to 20,690.81.
In New York, the Dow Jones industrial average was down 809.28 points at 33,240.18. The S&P 500 index was down 120.92 points at 4,175.20, while the Nasdaq composite was down 514.11 points or nearly four per cent at 12,490.74.
The Canadian dollar traded for 78.14 cents US compared with 78.38 cents US on Monday.
The June crude contract was up US$3.16 at US$101.70 per barrel and the June natural gas contract was up 17.3 cents at US$6.98 per mmBTU.
The June gold contract was up US$8.10 at US$1,904.10 an ounce and the July copper contract was down less than a penny at US$4.46 a pound.
The employee was indicted for allegedly distributing personal information of TD Bank customers, the latest criminal probe to hit the U.S. arm of the Canadian financial institution.
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The Bank of Canada's Carolyn Rogers says improving housing affordability ultimately requires reaching a balance between supply and demand, which she says will take time.
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Canadians continue to make payments on their mortgages, but there are signs of stress bubbling up on other credit products, which CMHC warns could continue to spread to home loans.
Canadians continue to make payments on their mortgages, but there are signs of stress bubbling up on other credit products, which CMHC warns could continue to spread to home loans.
Bell Canada will use $4.2 billion of the proceeds it got from selling its stake in Maple Leaf Sports & Entertainment to Rogers Communications to fund this acquisition.
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Major North American carriers with international operations are cashing in on a booming demand for overseas travel and a resurgence in business bookings.