Equities in Canada’s largest market fell sharply by the closing bell on Tuesday, on losses in the health-care and industrial sectors.
The S&P/TSX Composite Index tumbled 211.38 points, or 1.4% to end Tuesday to 15,063.59
The Canadian dollar backtracked 0.29 cents to 75.47 U.S.
Aphria plunged $1.46, or 19.2%, extending losses from the previous session, to $6.14. The cannabis producer defended its Latin American operations from claims in a short-seller report on Monday that the company had overpaid for assets.
Elsewhere in health-care stocks, Canopy Growth collapsed $2.58, or 5.9%, to $41.49.
Trican Well Service fell 10 cents, or 7.6%, to $1.22, as Raymond James raised rating on its stock to "strong buy" from "outperform". Stella-Jones lost 65 cents, or 1.6%, to $39.15.
Suncor Energy stumbled 29 cents to $42.64, while Canadian Natural Resources dipped 83 cents, or 2.3%, to $35.75.
Gold provided some of the few bright spots, as Barrick Gold acquired 24 cents, or 1.4%, to $17.44, while Franco-Nevada gained $2.53, or 2.8%, to $94.12.
Communications stocks fought their way up, as Rogers Communications gained 40 cents to $71.48, while BCE gained 43 cents to $57.19.
Utilities also were positive, as Fortis Inc. gained six cents to $46.92.
ON BAYSTREET
The TSX Venture Exchange tumbled 11.5 points, or 2%, to finish Tuesday at 572.13
All but three of the 12 TSX subgroups slumped, as health-care dropped 4.5%, while industrials suffered 2.7%, and energy chugged 2.3% lower.
The three gainers were gold, 1.6% stronger, communications, up 0.3%, and utilities, better by 0.1%.
ON WALLSTREET
Stocks fell sharply on Tuesday in the biggest decline since the October rout as investors worried about a bond-market phenomenon signaling a possible economic slowdown. Lingering worries around U.S.-China trade also added to jitters down Wall Street.
The Dow Jones Industrial Average jettisoned 799.36 points, or 3.1%, to conclude Tuesday at 25,027.07, and posting its worst day since Oct. 10.
The S&P 500 dropped 90.31 points, or 3.2%, to 2,700.06. The benchmark fell below its 200-day moving average, which triggered more selling from algorithmic funds. Financials were the worst performers in the S&P 500 plunging 4.4%. Utilities proved the only positive sector in the S&P 500, rising 0.2%
The NASDAQ lost 283.09 points, or 3.8%, to close back in correction territory at 7,158.43
On Wednesday, U.S. equity, option and fixed income markets will be closed due to the declaration of a National Day of Mourning to honour former President George H.W. Bush.
Shares of J.P. Morgan Chase, Citigroup and Bank of America all declined more than 4%. Citigroup and Morgan Stanley both reached 52-week lows along with Regionals Financial, Citizens Financial and Capital One.
The U.S. and China agreed over the weekend to hold off on any additional tariffs on each other's goods on January 1, in order to allow trade talks to continue. Leaders from the two countries met over dinner at the G-20 summit in Argentina.
Prices for the benchmark for the 10-year U.S. Treasury were sharply higher, lowering yields to 2.91% from Monday’s 2.97%. Treasury prices and yields move in opposite directions.
Oil prices slumped five cents to $52.90 U.S. a barrel.
Gold prices gained four dollars to $1,243.60 U.S. an ounce.
