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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.
Fed Leaves Interest Rates Unchanged, Warns Of Higher Unemployment, Inflation.
Swiss Franc Rises Against Majors
Swiss Market Ends Nearly 1% Down
Major European Markets Close On Weak Note After Cautious Session
Canadian Stocks Up Firmly In Positive Territory
German Factory Orders Rebound Ahead Of U.S. Tariffs
Bay Street Likely To Open Higher
