TSX Ends Sharply Lower

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(RTTNews) - The Canadian market ended sharply lower on Wednesday on widespread selling almost right through the day's session.

Worries about growth and caution ahead of the crucial U.S. inflation data weighed on the market. Weak commodity prices hurt as well.

The focus was also on the outcome of U.S. mid-term elections.

The benchmark S&P/TSX Composite Index ended with a loss of 316.06 points or 1.61% at 19,344.25, a few points off the day's low.

The Energy Capped Index drifted down 4.18%. Vermilion Energy (VET.TO) tanked more than 10%. Peyto Exploration and Development Corp (PEY.TO), Nuvista Energy (NVA.TO), Crescent Point Energy (CPG.TO), Paramount Resources (POU.TO), Athabasca Oil Corp (ATH.TO), Arc Resources (ARX.TO) and Baytex Energy (BTE.TO) are down 5 to 8.1%.

The Materials Capped Index dropped 2.53%. Pan American Silver Corp (PAAS.TO) ended nearly 10% down. Equinox Gold Corp (EQX.TO), Endeavour Silver Corp (EDR.TO), Methanex Corp (MX.TO), Yamana Gold (YRI.TO), First Quantum Minerals (FM.TO) and Lundin Mining (LUN.TO) lost 5 to 7.2%.

The HealthCare Index declined more than 2.5%, while the Information Technology Capped Index ended nearly 2% down.

Baush Health Companies (BHC.TO), down 6.6%, was the biggest loser in the Health Care Index. Tilray Inc (TLRY.TO) ended 4.1% down, and Bellus Health Inc (BLU.TO) closed with a loss of about 1.7%.

In the technology space, Absolute Software Corp (ABST.TO) plunged 15.4%. Converge Technology Solutions (CTS.TO) ended 13.4% down, while Nuvei Corp (NVEI.TO) and Hut 8 Mining Corp (HUT.TO) lost 10.7% and 10.3%, respectively.

Shopify Inc (SHOP.TO), Lightspeed Commerce (LSPD.TO) and Tecsys Inc (TCS.TO) also ended sharply lower.

The Financials Capped Index and the Industrials Capped Index lost 1.25% and 1.3% respectively.

U.S. Job Growth Slightly Exceeds Estimates In May

Employment in the U.S. increased by slightly more than expected in the month of May, according to a report released by the Labor Department on Friday. The Labor Department said non-farm payroll employment shot up by 139,000 jobs in May after jumping by a downwardly revised 147,000 jobs in April.

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U.S. Employment Jumps Slightly More Than Expected In May

Employment in the U.S. increased by slightly more than expected in the month of May, according to a report released by the Labor Department on Friday.

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Bay Street May Open Slightly Higher; U.S., Canadian Jobs Data In Focus

Higher Canadian and U.S. futures point to a slightly positive start on Bay Street Friday morning. The focus is on the crucial jobs data from Canada as well as the U.S. Lingering concerns about trade tensions may weigh on sentiment and limit market's upside.

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Eurozone GDP Growth Accelerates To 0.6%

The euro area economic growth doubled in the first quarter on household spending, investment and exports, official data revealed on Friday. Gross domestic product logged a quarterly growth of 0.6 percent in the first quarter, which was faster than the initial estimate of 0.3 percent, Eurostat said. This followed a 0.3 percent rise in the fourth quarter of 2024.

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India Slashes Policy Rates By Bigger Than Expected 50 Bps; Shifts Stance To Neutral

The Reserve Bank of India lowered its interest rates by a sharper-than-expected 50 basis points on Friday, marking the third consecutive reduction as policymakers focused on propelling growth amid the softening inflation, but the central bank shifted its monetary policy stance to neutral signaling a pause ahead. The MPC decided to cut the policy repo rate by 50 basis points to 5.50 percent.

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Sensex, Nifty Rally As RBI Surprises With Jumbo Rate Cut

Indian shares rallied on Friday as the Reserve Bank of India (RBI) surprised the market with a 50 basis points (bps) cut in the benchmark repo rate to 5.5 percent, slashed the cash reserve ratio (CRR) by 100 basis points to 3 percent, and also trimmed its inflation forecast for the year by 30 basis points to 3.7 percent.

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U.K. Stocks Subdued As Investors Look For Directional Clues

U.K. stocks are largely subdued Friday morning with investors looking for directional clues and refraining from making significant moves. The focus is on the progress of trade negotiations between U.S. and China, and the upcoming U.S. non-farm payrolls data.

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CAC 40 Down Slightly In Lackluster Trade

French stocks are down slightly in negative territory Friday morning, as disappointing industrial production data, and trade tensions weigh on sentiment. Investors are also looking ahead to the release of U.S. non-farm payrolls report, due later in the day.

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EURUSD	1.13851	GBPUSD	1.35215	AUDUSD	0.64868
USDJPY	144.984	USDCAD	1.36862	USDCHF	0.82382

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TSX Ends Sharply Lower