Login
Become a Member
News
Tauriga Hikes on New Line of CBD Gum
Stocks in Play
Dividend Stocks
Breakout Stocks
Tech Insider
CAD Daily Briefing
Stocks to Watch
Commodites
ETF's
The Week Ahead
Accesswire
Earnings Announcements
Dividend Announcements
Metals & Mining News
Commodity News
Crude Oil News
M & A News
OTC Company News
TSX Company News
Markets
TSX Falls Thursday
Market Update
Foreign Markets Update
North American Indices
TSX Sector Watch
TSX Sector Watch
Most Actives
New Listings – TSX
New Listings – TSX-Venture
Currencies
ETF's
Futures
Ratings / Research
Enbridge Inc "HOLD"
Analyst Ratings
Research Reports
Sectors
Stock Screener
Interactive Charts
Dividends Calendar
Stock Splits Calendar
Earnings Calendar
Personal Finance
Low Supply Means Rising Toronto Home Prices: October TREB Report
Portfolio
Watch List
Watch List
Baystreet School
Prime Rates
GIC Rates
Deposit Account Rates
Compare Mortgage Rates
Compare Credit Cards
US Rates
Economy
Economic Commentary
Economic Calendar
Global Economies
Global Economic Calendar
Glenn Wilkins
- Wednesday, August 14, 2019
TSX Falters in Sympathy with World Bourses
Health-care Stocks Take Beating
Stocks receded in Toronto and elsewhere Wednesday, after dire economic data from Germany and China reignited recession fears.
The S&P/TSX Composite dropped 317.97 points, or 1.9%, to end Wednesday at 16,032.87
The Canadian dollar slouched 0.54 cents to 75.09 cents U.S.
Health-care stocks took the worst pastings, with Aurora Cannabis losing 71 cents, or 8.1%, to $8.11, while Hexo fell 42 cents, or 6.5%, to $6.11
Energy also endured some knocks, as Kelt Exploration suffering 36 cents, or 11.4%, to $2.80, while Baytex Energy sliding 16 cents, or 8.6%, to $1.71.
Tech stocks were also badly off, with Sierra Wireless descending 73 cents, or 4.8%, to $14.55, while Shopify dived $19.20, or 3.9%, to $469.29
The lone gaining group was in gold, where Endeavour Mining hiked 72 cents, or 6.9%, to $11.41, and Torex Resources 38 cents, or 2.1%, to $19.13.
ON BAYSTREET
The TSX Venture Exchange lost 9.05 points, or 1.5%, to 578.35
All but one of 12 Toronto subgroups were still in the red by closing time, as health-care dwindled 5.7%, energy lost 3.5%, and information technology clicked lower 2.5%.
The lone holdout was gold, up 1%.
ON WALLSTREET
Stocks plunged on Wednesday, giving back Tuesday’s solid gains, after the U.S. bond market flashed a troubling signal about the U.S. economy.
The Dow Jones Industrials collapsed 801.17 points, or 3.1%, to 25,478.74, its biggest point decline of the year and fourth largest point drop of all time.The Dow has given up the entire rebound from a sell-off earlier in the month.
The S&P 500 dropped 85.72 points, or 2.9%, to 2,840.60
The NASDAQ sagged 242.42 points, or 3%, to 7,773.94
August has been a volatile month for the stock market so far. Including Wednesday, the Dow has moved more than 200 points in either direction on seven occasions. Wednesday’s plunge was the biggest drop since the August 5 drubbing of 767 points, or 2.9%, on the Dow.
Shares of Macy’s tanked more than 13% to their lowest level in a decade after the retailer posted second-quarter earnings way below analysts’ expectations as heavy markdowns used in spring to clear unsold merchandise weighed on profits.
The yield on the benchmark 10-year Treasury note on Wednesday broke below the two-year rate, an odd bond market phenomenon that has been a reliable indicator of economic recessions.
Bank stocks led the declines as it gets tougher for the group to make a profit lending money in such an environment. Bank of America gave up 4.7% and Citigroup fell 5.3%, while J.P. Morgan also dropped 4.2%.
Prices for the benchmark 10-year U.S. Treasury gained sharply, felling yields to 1.58% from Tuesday’s 1.70%. Treasury prices and yields move in opposite directions
Oil prices shed $2.04 to $55.06 U.S. a barrel.
Gold prices heightened $11.20 to $1,525.30 U.S. an ounce.
Market Updates
TSX Falls Thursday
Stocks Continue Negative into Afternoon
Banks Weigh on TSX at Outset
Positive Futures for TSX
TSX Finishes Flat, Still Breaks 3-Session Skid
Previous Articles
Subscribe to Get Small Cap
News & Alerts