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Canadian Market Deep Down In Negative Territory On Growth Worries
(RTTNews) - The Canadian market remains deep down in negative territory Monday afternoon despite regaining a significant portion of lost ground.
Mounting worries about global economic slowdown, rising bond yields amid looming interest rate hikes, and news about a surge in coronavirus cased in China are weighing on the market.
The benchmark S&P/TSX Composite Index, which tanked nearly 675 points to 19,602.90, is down 424.99 points or 2.1% at 19,849.83.
Mirroring all-round selling, all the sectoral indices are down in negative territory. The Industrials Capped Index, which is down by about 1%, has suffered the least damage. The Health Care Capped Index is down 4.25%, while the Information Technology Index and the Materials Index both are down by about 3.7%.
Several stocks from energy, real estate, consumer discretionary and financials sectors are down with sharp losses.
Shopify Inc (SHOP.TO) is down more than 9%. Nuvei Corp (NVEI.TO) is declining 8.8%, Methanex Corp (MX.TO) is drifting down 8.1% and Goeasy (GSY.TO) is lower by about 7%.
West Fraser Timber (WFG.TO), Precision Drilling (PD.TO), CargoJet (CJT.TO), Kinaxis Inc (KXS.TO), Franco-Nevada Corp (FNV.TO) and Fairfax Financial Holdings (FFH.TO) are down 2.7 to 6%.
Among the few gainers, Ritchie Bros. Auctioneers (RBA.TO), Imperial Oil (IMO.TO) are up 3% and 1.75%, respectively.
Australian Market Modestly Lower
Hong Kong Bourse May Spin Its Wheels On Tuesday
China Shares May Return To The Downside
Continued Consolidation Called For Taiwan Stock Market
Rally May Stall For Singapore Stock Market
Malaysia Bourse May Extend Monday's Losses
Australia Building Approval Data Due On Tuesday
