Futures tracking Canada's blue-chip stocks fell on Tuesday as rising bond yields globally and declines in precious metal prices dampened risk appetite, while an uptick in oil prices kept broader declines in check.
The TSX tumbled 283.44 points Monday to 36,270.48.
The Canadian dollar was off 0.11 Tuesday to 72.08 cents U.S.
Futures plunged 0.5% Tuesday morning.
Elevated oil prices stemming from the Iran conflict are affecting the global economy, with many countries already raising interest rates to combat inflation.
The Bank of Canada is expected to announce its monetary policy decision on Wednesday, with markets largely expecting no change to rates.
On the economic calendar, the Markit Canada Manufacturing PMI is due for release Tuesday morning (9:30 a.m. EDT).
ON BAYSTREET
The TSX Venture Exchange retreated 6.65 points Monday to 982.51.
ON WALLSTREET
Stock futures fell Tuesday, the first day of September, as inflation worries and elevated oil prices lifted bond yields in the U.S. and abroad, raising concern about whether the Federal Reserve will tighten monetary policy later this month.
Futures for the Dow Jones Industrials plunged 294 points, or 0.6%, to 52,946.
Futures for the S&P 500 let go of 42 points, or 0.6%, to 7,657.
Futures for the NASDAQ Composite plummeted 305 points, or 1%, to 29,208.
Tech stocks fell broadly. Nvidia, AMD and Micron were all down more than 1%. Microsoft lost 1% as well, while Google-parent Alphabet slipped 0.6%.
In Japan, the Nikkei 225 index fell 0.2% Tuesday, while in Hong Kong, the Hang backed off 0.9%.
Oil prices climbed $1.93 to $87.69 U.S. a barrel.
Gold prices slumped $51.90 to $4,427.90 U.S an ounce.
