Equities in Canada’s largest centre hit a more-than-one-week low on Tuesday, dragged down by energy and mining stocks, while investors awaited more clarity on central banks' monetary policy tightening path.
The TSX tumbled 174.7 points to move into noon hour EDT Tuesday at 19,759.51.
The Canadian dollar shed 0.2 cents to 75.49 cents U.S.
Dream Office REIT slumped $1.92, or 13.1%, to $12.76, after TD Securities cut the price target on the stock. What’s more, the company announced preliminary results of its $193.8 million issuer bid after market close on Monday.
All but two of the 12 TSX subgroups were lower midday Tuesday, with energy and gold stocks down 2.3% each, while materials surrendered 2.2%.
The two gainers were consumer staples and health-care, squeezing up 0.1% each.
ON BAYSTREET
The TSX Venture Exchange slipped 3.8 points to 608.50.
ON WALLSTREET
Stocks fell Tuesday, the first trading day of the week, as a rally that drove the market to levels not seen in more than a year took a breather.
The Dow Jones Industrials fell 305.62 points to 33,993.50.
The S&P 500 lost 31.74 points to 4,377.85.
The NASDAQ index slipped 82.66 points to 13,606.91.
Markets in the U.S. were closed Monday for Juneteenth.
Energy was the biggest laggard in the S&P 500, with the sector falling more than 2%. Meanwhile, Intel was a drag on the Dow, down by more than 3%. Nike and Boeing also weighed on the benchmark, falling more than 2% each.
U.S. housing starts topped estimates in May. There were 1.63 million starts last month, which was higher than the 1.39 million housing starts expected by economists polled by Dow Jones.
In earnings, investors will look toward a quarterly report from shipping giant FedEx on Tuesday after the closing bell.
Prices for the 10-year Treasury recovered, lowering yields to 3.71% from Friday’s 3.77%. Treasury prices and yields move in opposite directions.
Oil prices fell $1.70 to $70.08 U.S. a barrel.
Gold prices dulled $26.10 to $1,945.10 U.S. an ounce.
