Equities in Canada’s largest centre resumed their trip downward Tuesday, in anticipation of a decision Wednesday by the Bank of Canada. The TSX plummeted 182.58 points, or 1%, to close on Tuesday at 19,088.27.
The Canadian dollar slid 0.11 cents to 76.05 cents U.S.
Markets throughout North America were shuttered Monday for Labour Day.
Health-care suffered the worst damage, with Aurora Cannabis falling 15 cents, or 7.1%, to $1.83, while Tilray docked 25 cents, or 5.6%, to $4.18.
In energy issues, Paramount Resources dipped $1.45, or 4.9%, to $27.50, while Vermillion Energy lost $1.62, or 4.7%, to $33.25.
In consumer discretionary stocks, BRP Inc sank $3.75, or 4.2%, to $85.74, while Sleep Country fell 79 cents, or 2.9%, to $26.07.
ON BAYSTREET
The TSX Venture Exchange erased 8.45 points, or 1.3%, to 623.57.
All but 12 TSX subgroups were lower on the day, with health-care subsiding 2.5%, energy dropping 1.8%, and consumer discretionary off 1.2%.
ON WALLSTREET
U.S. stocks slumped on Tuesday in a volatile trading session at the start of the holiday-shortened week as investors weighed what strong economic data and rising rates mean for the Federal Reserve’s aggressive tightening campaign.
The Dow Jones Industrials tumbled 173.14 points to end Tuesday at 31,145.30, but was off lows of the day boosted by defensive stocks such as Johnson & Johnson and Coca-Cola.
The S&P 500 slipped 16.07 points to 3,908.19
The NASDAQ Composite fell backward 85.95 points to 11,544.91, notching its seventh day of losses, its longest since 2016.
The moves came after August ISM data Tuesday morning was stronger than expected, coming in at 56.9 versus expectations of 55.5. The report follows Friday’s jobs release, which also beat Wall Street’s expectations, showing a more solid U.S. economy than anticipated.
Treasury prices withered, raising yields to 3.34% from Friday’s 3.19%. Treasury prices and yields move in opposite direction.
Oil prices forfeited 24 cents to $86.63 U.S. a barrel.
Gold prices staggered $11.30 to $1,711.30 U.S. an ounce.