Futures for Canada's main stock index were lower on Tuesday, following a rout in global markets after iPhone demand concerns prompted a tech selloff across the world.
The S&P/TSX Composite Index slid 84.49 points to finish Monday at 15,071.01
The Canadian dollar dipped 0.13 cents at 75.79 U.S. early Tuesday
December futures skidded 0.2% Tuesday.
Underwater surveys began on Monday after an oil spill off Canada's Atlantic coast as Husky Energy and government agencies assessed a leak that temporarily shut down all crude production in the waters of Newfoundland and Labrador.
Meanwhile, Canaccord Genuity cut Husky’s target price to C$19 from C$24
Morgan Stanley cut the price target on Canadian Natural Resources to $50 from $60
CIBC cut the price target on Trinidad Drilling to $1.75 from $2.10
ON BAYSTREET
The TSX Venture Exchange slumped 9.26 points, or 1.5%, Monday to 615.24
ON WALLSTREET
U.S. stock index futures pointed to a lower open on Tuesday as a decline in Target shares pressured retailers, while the most popular technology stocks fell again.
Futures for the Dow Jones Industrials plummeted 297 points, or 1.2%, to 24,732, pointing to a loss of more than 250 points at the open. The Dow fell nearly 400 points in the previous session.
S&P futures dropped 31.75 points, or 1.2%, to 2,664.50, while the NASDAQ Composite faded 111.75 points, or 1.7%, to 6,560.25.
Target fell 9.5% in the pre-market after reporting weaker-than-expected earnings for the previous quarter. The company also posted lighter-than-forecast same-store sales, which is a key metric for retailers.
The decline sent other retailers negative. Kohl's fell 7.7%, L Brands let go of 7.8%, and Macy's jettisoned 2.6%.
Futures also fell as members of the popular "FAANG" trade — which is made up of Facebook, Amazon, Apple, Netflix and Alphabet — fell further into bear market. Facebook fell 1.9%, while Amazon, Apple and Netflix all dropped at least 2.5%. Alphabet's stock dipped 1.5%.
On Monday, the FAANG members all closed down at least 20% from their one-year highs, pressuring the major indexes.
Overseas, in Japan, the Nikkei 225 slid 1.1% Tuesday, while in Hong Kong, the Hang Seng index plunged 2%
Oil prices lost 63 cents to $56.57 U.S. a barrel.
Gold prices picked up $1.20 to $1,226.50 U.S. an ounce.
