(MENAFN- Baystreet.ca)
Toronto Stock Exchange Hits New Low For The Year
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The Toronto Stock Exchange has fallen to a new low for the year as the global selloff in equities
intensifies.
Markets in Canada and the U.S. each hit new lows while U.S. Treasury yields continued to rise
on expectations of continued interest rate hikes.
The benchmark Toronto Stock Exchange closed down 19.13 points (0.10%) at 18,307.91,
marking its lowest level since February 2021.
Energy and base metals were the lone bright spot in the Canadian market, rising 2.37% and
2.33% respectively. However, utility, financial, and industrial stocks dragged the index lower.
In the U.S., the benchmark Dow Jones Industrial Average closed down 125.82 points at
29,134.99. The S&P 500 index was down 7.75 points at 3,647.29, a new low for the year.
The Nasdaq composite index that is heavily comprised of technology stocks rose 26.58 points
to close at 10,829.50.
The Canadian dollar traded for 72.85 cents U.S. as the American dollar continues to strengthen
against other currencies around the world.
December gold contracts were up $2.80 U.S. at $1,636.20 U.S. per ounce and the December
copper contract was up a penny at $3.28 U.S. a pound.
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