Equities in Toronto had a rough go of it Tuesday, as resources placed a burden on the indexes.
The TSX Composite Index faltered 74.80 to conclude Tuesday at 34,927.38.
The Canadian dollar sank 0.25 cents to 70.37 cents U.S.
E-commerce platform Shopify Inc will ban all vapes from its platform as soon as this week following pressure from a group of U.S. state attorneys general aiming to curb sales of illegal e-cigarettes online, according to two sources familiar with its plans.
Shopify shares gained 24 cents to $153.21.
Materials led laggards, with First Majestic Silver dishing off $1.64, or 6.5%, to $23.46, while Capstone Mining jettisoned 91 cents, or 6.2%, to $13.75.
In gold stocks, Avino Gold dipped 69 cents, or 7.6%, to $8.38, while Aya Gold dropped $2.03, to 7.3%, to $25.90.
In consumer discretionaries, Aritzia weakened $6.16, or 3.8%, to $156.40, while Magna International sank $1.87, or 2%, to $91.59.
Consumer staples tried to make up ground, with Alimentation Couche-Tard soaring $9.61, or 11.7%, to $91.89, while George Weston gained $2.25, or 2.2%, to $102.93.
In the communications sector, BCE Inc. took on 63 cents, or 2%, to $32.74, while TELUS grabbed 23 cents, or 1.4%, to $16.30.
In utilities, Hydro One improved 98 cents, or 1.7%, to $57.63, while Fortis climbed $1.22, or 1.5%, to $80.55
ON BAYSTREET
The TSX Venture Exchange stumbled 25.88 points, or 2.7%, Tuesday to 922.66.
Still, eight of the 12 TSX subgroups were higher Tuesday, led by consumer staples, up 4.2%, while telecoms surged 1.4% and utilities strengthened 0.8%.
The four gainers were weighed most by materials, docking 4.2%, gold, dulling 3.7%, and consumer discretionaries, sagging 0.3%.
ON WALLSTREET
The S&P 500 was lower on Tuesday as a tech selloff that began during the prior session picked up steam overnight, with global markets in Asia routed as memory chip-related shares tumbled.
The Dow Jones Industrials retreated 45.87 points to 51,666.84.
The much broader index shed 107.33 points, or 1.4%, to 7,365.46.
The NASDAQ plunged 579.56 points, or 2.2%, to 25,587.04.
The major averages came off their lows as tech stocks outside of chipmakers such as Microsoft and Amazon as well as defensive stocks like Walmart, Procter & Gamble and Johnson & Johnson moved higher.
Additionally, International Business Machines shares popped 5% following an upgrade to overweight at JPMorgan, while Sherwin-Williams and Merck saw gains as well.
Sandisk fell 12% while components maker Seagate Technology shed more than 6%. Intel pulled back 4%, while Advanced Micro Devices dipped 5% and Qualcomm lost 8%.
Recent IPO Cerebras will report earnings after the bell Tuesday, while Micron will report results on Wednesday after the close.
Prices for the 10-year Treasury rebounded, lowering yields to 4.49% from Monday’s 4.51%. Treasury prices and yields move in opposite directions.
Oil prices sank 50 cents to $73.36 U.S. a barrel.
Gold prices dropped $66.40 to $4,156. U.S. an ounce.
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