Stocks in Toronto fell on Tuesday pressured by worries over the U.S.-China trade war, ahead of a highly anticipated U.S. Federal Reserve policy statement.
The S&P/TSX Composite had sunk 39.85 points by noon Tuesday to 16,452.32
The Canadian dollar slid 0.06 cents to 75.92 cents U.S.
The largest percentage gainer on the TSX was Nutrien, which jumped $4.89, or 7.4% to $71.44, after reporting quarterly results.
Cannabis producer Aphria rose 31 cents, or 4.4%, to $7.33, and was among the top gainers on the main index.
Colliers International Group fell $6.85, or 6.8%, the most on the TSX, to $94.26, after the company's quarterly results missed estimates.
The second-biggest decliner was First Quantum Minerals, down 42 cents, or 3.4%, to $11.82, after reporting second-quarter revenue that missed expectations.
ON BAYSTREET
The TSX Venture Exchange subtracted 1.11 points to 590.01
All but three of the 12 Toronto subgroups were still bruised by lunch hour, as consumer discretionary stocks bowed 0.8%, while real-estate and financials each fell 0.6%.
The three gainers were materials, better by 1%, health-care stocks, haler 0.6%, and gold, squeaking up 0.1%.
ON WALLSTREET
Stocks fell on Tuesday after President Donald Trump renewed his attacks on China, decreasing hope the two largest world economies will reach a trade deal.
The Dow Jones Industrials dumped 67.35 points to 27,154
The S&P 500 slipped 9.94 points to 3,011.01
The NASDAQ slid 27.17 points to 8,266.16
Meanwhile, earnings season continued as Merck, Procter & Gamble and GrubHub released their quarterly results.
Merck posted earnings and revenue that exceeded analyst expectations, sending the stock up more than 2%. The company said sales of its cancer-treating drug Keytruda surged 58% in the previous quarter.
Procter & Gamble climbed more than 4% to an all-time high on the back of fiscal fourth-quarter results that beat analyst expectations.
GrubHub, however, fell more than 9% after posting a disappointing profit.
More than 52% of S&P 500 companies have reported quarterly results thus far. Data shows 75% of those companies have posted a better-than-forecast profit.
Tech giant Apple is scheduled to release its results Tuesday after the bell.
Trump said in a series of tweets Tuesday that China is not keeping its promise of buying more U.S. agricultural products, adding: “China is doing very badly, worst year in 27 - was supposed to start buying our agricultural product now - no signs that they are doing so. That is the problem with China, they just don’t come through.”
China and the U.S. agreed to restart trade talks late last month after they fell through in May.
The Fed will announce its latest decision on whether to adjust interest rates at 2 p.m. ET Wednesday.
Prices for the benchmark 10-year U.S. Treasury retreated a mite, raising yields to 2.07% from Monday’s 2.06%. Treasury prices and yields move in opposite directions
Oil prices gained 40 cents to $57.27 U.S. a barrel.
Gold prices were brighter $7.40 to $1,427.80 U.S. an ounce.
