Equities in Toronto hit a two-week low in Friday, extending their pullback from a record high in a broad-based selloff that included losses for its heavyweight energy and financial services groups as oil prices fell.
The S&P/TSX Composite plummeted 173.23 points, or 1.1%, to move into noon hour ET at 15,607.97.
For the week, the index was on track to fall 1.4%, the most since before the U.S. presidential election in early November
The Canadian dollar was unchanged at 76.32 cents U.S.
Royal Bank of Canada reported quarterly earnings of more than $3 billion for the first time, beating market forecasts.
Still, its shares fell 0.9% to $97.38.
Auto parts maker Magna International Inc tumbled 5.5% to $55.92 after it reported a lower-than-expected quarterly profit as costs rose.
Husky Energy fell 2.5% to $15.99 even as the oil producer reported a smaller-than-expected quarterly loss.
The energy group tumbled, with Suncor Energy declining 2.7% to $41.69.
MacDonald Dettwiler and Associates said it would buy U.S.-based DigitalGlobe Inc for about $3.10 billion to strengthen its position in the satellite imagery market.
Its shares tumbled 5.1% to $65.50, while the industrials group declined.
On the economic ledger, Statistics Canada reported that January’s consumer price index rose 2.1% on a year-over-year basis in January, following hiking 1.5% in December. On a seasonally-adjusted monthly basis, inflation moved up 0.7% in January, after increasing 0.4% in December.
ON BAYSTREET
The TSX Venture Exchange tailed off 2.48 points to 836.97
All but one of the 12 subgroups were lower, with energy lagging 2.3%, health-care failing 2.2%, and consumer discretionary stocks down 1.7%
The lone gainer was in gold, up 0.4%.
ON WALLSTREET
U.S. equities fell Friday, taking a breath from their most recent run at record levels.
The Dow Jones Industrials dropped 58.96 points from Thursday’s 10th-straight all-time high to 20,751.36, with Goldman Sachs contributing the most losses
The blue-chip index was on track to snap a 10-session streak of closing at record highs, its longest since 1987.
The S&P 500 dipped 5.92 points to 2,357.89, with financials sliding around 1% to lead decliners.
The NASDAQ slid 16.56 points to 5,818.95.
The Dow and S&P 500 entered Friday's session on track to post weekly gains, while the NASDAQ was marginally negative week to date.
In economic news, U.S. new home sales rose 3.7% in January, below the expected increase of 6.3%. Meanwhile, consumer sentiment in the U.S. hit 96.3 in February, slightly above an estimate of 96.
Prices for the benchmark 10-year Treasury note gained strength, dropping yields to 2.32% from Thursday’s 2.38%. Treasury prices and yields move in opposite directions.
Oil prices skidded 39 cents to $54.06 U.S. a barrel
Gold prices gained $6.60 to $1,258.00 U.S. an ounce.
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