Canada's main stock index gave up promising gains and finished deeply in minus territory on Thursday, despite blockbuster gains south of the border by Nvidia.
The TSX fell 368.24 points, or 1.2%, to stagger to Thursday’s closing bell at 29,910.17.
The Canadian dollar skidded 0.28 cents to 70.92 cents U.S.
In corporate news, Vizsla Silver announced the pricing of $250-million convertible senior notes. Canadian shares of the firm collapsed 95 cents, or 14.5%, to $5.62.
Gold stocks sported the most open wounds, with Aya Gold & Silver doffing 97 cents, or 6.8%, to $13.22, while Iamgold lost $1.17. or 6.1%, to $18.04.
In materials, Discovery Silver stumbled 50 cents, or 8%, to $5.76, while Endeavour Silver lost 78 cents, or 7.3%, to $9.98.
In tech stocks, Celestica shed $41.79, or 9.5%, to $398.02, while Dye & Durham lost 14 cents, or 4.9%, to $2.71.
Consumer staples proved the one standout, with Metro picking up $1.53, or 1.6%, to $100.30, while Loblaw Companies acquired 84 cents, or 1.4%, to $62.17.
On the economic scene, Statistics Canada’s industrial product price index increased 1.5% month over month and gained 6.0% year over year., while its raw materials price index increased 1.6% month over month and rose 5.8% year over year.
ON BAYSTREET
The TSX Venture Exchange dropped 23.74 points, or 2.7%, to 849.71.
All but one of the 12 TSX subgroups were in the minus column by the close Thursday, with gold backpedaling 4.5%, materials losing 4%, and information technology off 2.7%.
The lone stalwart was in consumer staples, in the green 0.9%.
ON WALLSTREET
Stocks fell on Thursday, as a market-wide rally sparked by blockbuster Nvidia results and guidance gave up steam and as investors lost hope that the Federal Reserve would cut rates again in December.
The Dow Jones Industrials index plummeted 386.51 points to 45,752.25
The S&P 500 stumbled 103.19 points, or 1.6%, to 6,538.97
The NASDAQ slipped 486.18 points, or 2.2%, to 22,078.04.
Walmart shares were able to keep gains, rising around 6% on Thursday following stronger-than-expected sales and revenue for its fiscal third quarter, partially due to its e-commerce business’ growth.
The move in Walmart — seen as a steady stock in any economy — was partly tied to a ongoing rotation out of higher-valued tech into defensive-oriented companies.
Stocks also got a small boost following the release of a better-than-expected U.S. jobs report. The release shows the economy added 119,000 jobs in September, beating expectations. The report was delayed due to the U.S. government shutdown. However, most investors were looking beyond the stale data release.
Prices for the 10-year Treasury gained, pushing yields down to 4.10% from Wednesday’s 4.13%. Treasury prices and yields move in opposite directions.
Oil prices moved downward 17 cents to $59.27 U.S. a barrel.
Gold prices let go of $7.20 to $4,075.20 U.S. an ounce.
