The Toronto Stock Exchange (TSX) fell deeper into the red during the third quarter, declining
2.2% for the July through September period.
Canada’ main stock exchange has been dragged lower in recent weeks by global volatility in
equities and a decline in commodity prices. A slump in the price of crude oil has also weighed
on the Canadian index.
Year-to-date, the TSX is down 13% at 18,444.22. However, that decline is not as steep as the
three main stock exchanges in the U.S., each of which is down more than 20% on the year,
meeting the technical definition of a bear market.
However, global market conditions appear to be deteriorating and Canada is not immune. The
Canadian dollar is currently trading a 72.45 cents U.S. as investors increasingly seek safety in
the greenback.
At the same time, November crude oil contracts closed down $1.74 U.S. last week at $79.49
U.S. per barrel, while the November natural gas contract was down nearly 11 cents U.S. at
$6.77 U.S. per mmBTU.
The December gold contract is currently sitting at $1,672.00 U.S. per ounce and copper is
trading at $3.41 U.S. a pound.
