TSX Ends Notably Lower
(RTTNews) - The Canadian market ended notably lower on Tuesday, pushed down by losses in materials and energy sectors as commodity prices fell amid concerns about global economic slowdown.
Investors stayed wary of picking up stocks, choosing to wait for the Federal Reserve Chair Jerome Powell's congressional testimony for clues about the outlook for U.S. central bank's interest rate moves.
The benchmark S&P/TSX Composite Index ended with a loss of 180.07 points or 0.9% at 19,754.14.
The Materials Capped Index dropped 2.57%. Iamgold Corp (IMG.TO), MAG Silver Corp (MAG.TO), Endeavour Silver Corp (EDR.TO), Equinox Gold Corp (EQX.TO), Hudbay Minerals (HBM.TO), Silvercrest Metals (SIL.TO), Franco-Nevada Corporation (FNV.TO) and Osisko Gold Royalties (OR.TO) lost 4 to 6%.
The Energy Capped Index lost 2.09%. Suncor Energy (SU.TO), Baytex Energy (BTE.TO), Canadian Natural Resources (CNQ.TO), Crescent Point Energy (CPG.TO) and Tourmaline Oil Corp (TOU.TO) ended down 2 to 3%.
Among financials shares, Nuvei Corp (NVEI.TO) dropped about 4%. Canadian Imperial Bank of Commerce (CM.TO), Bank of Nova Scotia (BNS.TO), Manulife Financial (MFC.TO), Fairfax Financial Holdings (FFH.TO) and Laurentian Bank (LB.TO) ended lower by 1 to 2%.
Canadian Tire Corporation (CTC.A.TO), Thomson Reuters (TRI.TO), West Fraser Timber (WFG.TO), Cogeco Communications (CCA.TO), Restaurant Brands International (QSR.TO) and Stella-Jones (SJ.TO) gained 1 to 2%.
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