Stocks in Canada’s largest centre faded back into negative country as Wednesday drew to a close, on weakness in health-care issues.
The S&P/TSX Composite Index fell 34.65 points to end Wednesday at 15,878.48
The Canadian dollar slumped 0.45 cents to 78.34 cents U.S.
Canopy Growth took the biggest hit on Wednesday, plummeting $1.56, or 7.8%, to $18.40, while rival Aurora Cannabis tailed off 30 cents, or 4.7%, to $6.11.
Among industrials, Martinrea International Inc. rose $1.40, or 11.2%, to $13.91 after the car parts maker posted third-quarter earnings that beat expectations.
Countering this strength, though, was Canadian National Railway, losing 17 cents to $101.95, while Bombardier ducked lower four cents, or 1.3%, to $3.07.
In real-estate, Brookfield Asset Management faded 18 cents to $52.51
Consumer staples fared best of the gaining group, as Loblaw Companies forged ahead 11 cents to $69.26, while Saputo gained 24 cents a share to $43.91.
Gold gained slightly, as Goldcorp inched up three cents to $16.90, while Kinross Gold strengthened 11 cents, or 2%, to $5.58.
On the economic beat, the Canadian Real Estate Association said national home sales rose 0.9% from September to October. Actual (not seasonally-adjusted) activity stood 4.3% below last October’s level.
Ontario announced a tax cut for small businesses on Tuesday, as it said it is on track to balance the budget this year for the first time since the global financial crisis.
ON BAYSTREET
The TSX Venture Exchange shed 3.33 points to 791.62
All but three of the 12 TSX subgroups ended the day in the red, as health-care stocks surrendered 2% of their strength. Industrials settled back 0.7%, and real-estate dipped 0.5%.
The three gainers were headed by consumer staples, nicking ahead 0.3%, while gold and financials were in the green by a mere 0.1% each.
ON WALLSTREET
U.S. stocks closed lower on Wednesday as the current bull market showed signs of slowing down.
The Dow Jones industrial average slouched 138.19 points to 23,271.28 -- its lowest close in over three weeks — with Caterpillar contributing the most to the losses.
The S&P 500 fell 14.25 points to 2,564.62, with energy declining 1.2%. Energy stocks were pressured by a drop in oil prices.
The S&P 500 was also pressured by declines in financials and consumer discretionary stocks.
Consumer discretionary stocks fell 0.4%, led lower by Target. The retailer's stock dropped nearly 10% as its holiday forecast disappointed investors.
The NASDAQ Composite thundered lower 31.66 points to 6,706.21, as tech stocks fell broadly. Apple, Netflix and Alphabet were among the big-name tech stocks that were trading lower on Wednesday. Tech has had a stellar year, helping lift the NASDAQ 24% higher in 2017.
The S&P and Dow are also up sharply for the year.
In economic news, retail sales rose 0.2% last month. Economists expected them to remain unchanged. Meanwhile, the consumer price index edged up 0.1% in October, in line with expectations.
Prices for the benchmark 10-year Treasury note gained ground Wednesday, lowering yields to 2.33% from Tuesday’s 2.38%. Treasury prices and yields move in opposite directions.
Oil prices sank 45 cents a barrel to $55.25 U.S.
Gold prices dropped $4.40 to $1,278.50 U.S. an ounce.
