TSX Ends Sharply Lower

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(RTTNews) - The Canadian market ended sharply lower on Thursday on widespread selling amid rising concerns about U.S. interest rates.

Mirroring all-round selling, all the sectoral indices closed in negative territory. Healthcare, communications, financials and materials shares declined sharply.

Several stocks from consumer and industrials sectors too posted sharp losses.

The benchmark S&P/TSX Composite Index ended with a loss of 259.81 points or 1.28% at 20,086.72, slightly above the day's low of 20,063.92. After opening marginally up, the index advanced to 20,441.02 in early trades, before drifting lower.

Hut 8 Mining Corp (HUT.TO) dropped nearly 14% on huge volumes. Among the other stocks that went down on large volumes, Lunding Mining Corporation (LUN.TO) ended nearly 7%, Canadian Imperial Bank of Commerce (CM.TO) ended 4.2% down, Baytex Energy (BTE.TO) lost 3.7%, and Teck Resources (TECK.B.TO) lost 3.1%.

Manulife Financial Corporation (MFC.TO), TC Energy Corporation (TC.TO), Bank of Nova Scotia (BNS.TO), Toronto-Dominion Bank (TD.TO), Shopify Inc (SHOP.TO) and Royal Bank of Canada (RY.TO) lost 1 to 2.3%.

Maple Leaf Foods Inc (MFI.TO) shares tanked 14% on weak results. The company reported fourth-quarter net loss of $41.5 million, or $0.34 per share, compare with net income of $1.9 million, of $0.02 per share in the year-ago quarter.

Shawcor (SCL.TO) plunged 19.9%. Linamar Corporation (LNR.TO) ended 13.7% down, First Quantum Minerals (FM.TO) lost about 8.4%, Premium Brands Holding Corporation (PBH.TO) drifted down more than 5%, and Canadian Imperial Bank of Commerce (CM.TO) lost 4.1%.

Endeavour Mining Inc (EDV.TO) ended 3.4% down after the company reported net loss of $256 million of $1.04 per share for the quarter ended December 31, 2022, compared with net loss of $87 million or $0.35 per share in the year-ago quarter.

Magnet Forensics (MAGT.TO) reported net income of $4.2 million for the fourth quarter of 2022, up from $0.8 million in the corresponding quarter of the previous year. The stock ended modestly higher.

Docebo Inc (DCBO.TO) gained nearly 3%. The company posted adjusted net income of $3.4 million in the fourth quarter of 2022, compared with adjusted net loss of $0.5 million in the fourth quarter of the previous year.

European Shares Inch Higher Ahead Of US Inflation Report

European shares edged higher in cautious trade on Wednesday as investors monitored the latest updates from Sino-U.S. talks and awaited crucial U.S. inflation data for direction.

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Asian Shares Climb On Trade Talk Optimism

Asian stocks advanced on Wednesday after top U.S. and Chinese officials said they have reached a framework to implement the Geneva consensus, following two days of discussions in London.

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Commodity Currencies Slide Amid Crude Oil Price Drop

The commodity currencies such as the Australia, the New Zealand and the Canadian dollars weakened against their major currencies in the Asian session on Wednesday amid crude oil price drop, as markets awaited the outcome of US-China trade talks, which have yet to be approved by President Donald Trump, with China's poor oil demand and OPEC+ output increases weighing on the market.

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European Shares Seen Tad Lower At Open

European stocks may drift lower on Wednesday as market participants assess the outcome of U.S.-China trade negotiations.

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Sensex, Nifty Marginally Higher In Lackluster Trade

Indian shares were marginally higher on Wednesday after top U.S. and Chinese officials agreed on a "framework" to move forward on trade, following two days of high-level talks in London.

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Australian Market Trims Early Gains In Mid-market

The Australian market is trimming its early gains in mid-market moves on Wednesday, but extending the gains in the previous session, with the benchmark S&P/ASX 200 moving above the 8,600 level to fresh all-time highs, following the positive cues from Wall Street overnight, with gains in iron ore miners, energy and financial stocks partially offset by weakness in gold miners and technology stocks.

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Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Wednesday, following the broadly positive cues from Wall Street overnight, amid easing trade war tensions after top U.S. and Chinese officials agreed upon a "framework" to move forward on trade, following two days of high-level talks in London. The framework will first need to be approved by leaders in Washington and Beijing.

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Sensex, Nifty Set For Muted Start

Indian shares are seen opening little changed on Wednesday despite top U.S. and Chinese officials agreeing on a "framework" to move forward on trade, following two days of high-level talks in London.

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EURUSD	1.14388	GBPUSD	1.34944	AUDUSD	0.65138
USDJPY	145.002	USDCAD	1.36827	USDCHF	0.82179

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TSX Ends Sharply Lower