Equities in Canada’s largest centre ditched much of their strength Tuesday, as the days count down to the end of the calendar third quarter.
The TSX Composite Index slumped 244.46 points, or 1.2%, to 19,556.15.
The Canadian dollar flopped 0.36 cents at 73.98 cents U.S.
Real-estate was the chief culprit Tuesday, as Colliers International skidded $5.45, to 3.9%, to $133.11, while units of H&R REIT declined 30 cents, or 3.1%, to $9.42.
In health-care issues, Tilray flopped 18 cents, or 5.2%, to $3.26, while Sienna Senior Living dropped 23 cents, or 2.1%, to $10.85.
Gold moved downward, as Centerra Gold dipped 23 cents, or 3.3%, to $6.77, while Osisko Gold Royalties gave back 44 cents, or 2.6%, to $16.26.
Only energy seemed to have a positive day, with MEG grabbing 98 cents, or 4%, to $25.67, while Canadian Natural Resources gained $2.12, or 2.5%, to $87.21.
ON BAYSTREET
The TSX Venture Exchange toppled 13.12 points, or 2.3%, by the end Tuesday to 557.05.
All but one of the 12 TSX subgroups were lower, as real-estate slid 2.2%, and health-care 2.1%, and gold dulled in price declined 1.9%.
Only energy held out against the tide, up 0.8%
ON WALLSTREET
The Dow Jones Industrial Average fell Tuesday after the latest home sales and consumer confidence reports stoked concern over the state of the U.S. economy.
The blue-chip withered 388 points, or 1.1%, to conclude Tuesday at 33,618.88, in its worst day since March. The 30-stock index closed below its 200-day moving average for the first time since May.
The S&P 500 index faltered 63.91 points, or 1.5%, to 4,273.53.
The NASDAQ index slipped 207.71 points, or 1.6%, to 13,063.61.
Amazon shares fell 4% — the most of the mega-cap tech stocks — after the Federal Trade Commission filed an antitrust lawsuit, saying the online retailer keeps prices artificially high and hurts rivals.
JPMorgan Chase CEO Jamie Dimon warned interest rates may need to rise further to tamp down inflation, comments that added to bearish sentiment Tuesday. Bank stocks declined, with Wells Fargo shares dropped about 2%, while Morgan Stanley fell 1%.
Those moves would add to the market’s losses for the month. The NASDAQ Composite is down more than 6% in September, while the S&P 500 was off more than 5% and Dow lost more than 3%.
August new home sales missed expectations. Homes under contract totaled 675,000 for the month, down 8.7% from July, according to the Commerce Department. Economists polled by Dow Jones anticipated a total of 695,000, which would have represented a 2.7% fall from unrevised July totals.
The Conference Board’s consumer confidence index fell to 103 in September, down from 108.7 in August. Economists were anticipating 105.5, according to consensus estimates from Dow Jones. The expectations index tumbled to 73.7, below the level that observers associate with recessions.
Investors this week are also grappling with negotiations in Washington, as lawmakers hope to avert a government shutdown that could take place as early as Oct. 1 if Congress doesn’t agree on a spending bill.
Still, upcoming seasonal market tumult could present a window for investors. Though October is known as the “jinx month” because of the 1929 and 1987 crashes, it also has a reputation as a “bear killer,” according to the “Stock Trader’s Almanac.”
Prices for the 10-year Treasury fell back, raising yields to 4.55% from Monday’s 4.54%. Treasury prices and yields move in opposite directions.
Oil prices gained 93 cents to $90.59 U.S. a barrel.
Gold prices cratered 18 dollars to $1,918.60.
