Taiwan Semiconductor Manufacturing Company Ltd.<\/a>, Charles Schwab Corp., Prologis Inc., Bank of New York Mellon Corp., U.S. Bancorp and PNC Financial Services Group Inc. <\/p>\n\u201cThe selloff in Asia looks less like a sudden deterioration in technology fundamentals and more like a repricing of the cost of capital,\u201d said Charu Chanana, chief investment strategist at Saxo Bank in Singapore.<\/p>\n
\u201cInvestors are not questioning whether AI demand exists,\u201d she said. \u201cThey are increasingly \u200bquestioning what price they should pay for that growth when interest rates are high, volatile and \u200cpotentially moving higher again.\u201d<\/p>\n
Overseas, the pan-European STOXX 600 was down 0.29 per cent. Britain\u2019s FTSE 100 climbed 0.57 per cent, Germany\u2019s DAX declined 0.43 per cent and France\u2019s CAC 40 climbed 0.11 per cent.<\/p>\n
In Asia, Japan\u2019s Nikkei tumbled 4.9 per cent, while Hong Kong\u2019s Hang Seng closed 1.03 per cent lower. <\/p>\n
Commodities<\/p>\n
Oil prices eased as potential \u200bU.S. steps to ease restrictions on \u200cRussia\u2019s \u201cshadow fleet\u201d tankers soothed price concerns, but attacks on ships in the Middle East and Ukrainian strikes on Russian energy infrastructure limited the decline.<\/p>\n
Brent crude futures dropped \u20601.4 per cent to US$104.60 \u200ba barrel, while West Texas Intermediate (WTI) crude futures were little changed at US$95.10.<\/p>\n
\u201cThe ongoing conflict between Saudi Arabia and the Houthis is keeping a geopolitical premium in oil markets but energy infrastructure has not been attacked in the last several days,\u201d MUFG analysts said in a note.<\/p>\n
In other commodities, spot gold rose 1.2 per cent to US$4,156.11 an ounce. U.S. gold futures for December delivery gained 1.7 per cent \u200bto US$4,177.80.<\/p>\n
Currencies and bonds<\/p>\n
The Canadian dollar strengthened against its U.S. counterpart. <\/p>\n
The day range on the loonie was 70.21 US cents to 70.45 US cents in early trading. The Canadian dollar was down about 1.49 per cent against the greenback over the past month. It traded at $1.4203 per US$1. <\/p>\n
The U.S. dollar index, which weighs the greenback against a group of currencies, fell 0.48 per cent to 102.06. <\/p>\n
The euro gained 0.53 per cent to US$1.1219. The British pound advanced 0.46 per cent to US$1.3256. <\/p>\n
In bonds, the yield on the U.S. 10-year note was last down at 5.083 per cent. <\/p>\n
Economic news<\/p>\n
Euro area industrial production for August. France CPI for September. U.K. GDP, trade deficit and industrial production<\/p>\n
6 a.m. ET: U.S. Conference Board CEO confidence index for the fourth quarter<\/p>\n
8:30 a.m. ET: U.S. initial jobless claims<\/p>\n
8:30 a.m. ET: U.S. retail sales for September. Consensus is for a monthly rise of 0.3 per cent<\/p>\n
8:30 a.m. ET: U.S. producer price index final demand. Consensus is for a year over year rise of 5.5 per cent<\/p>\n
8:30 a.m. ET: Canada manufacturing sales for August and new orders for August. BMO expects a rise of 1.1 per cent, and a decline of 2 per cent, respectively<\/p>\n
8:30 a.m. ET: Canada wholesale trade for August<\/p>\n
8:30 a.m. ET: Canada new motor vehicle sales for August. They are expected by BMO to be up 5.5 per cent year over year.<\/p>\n
10 a.m. ET: U.S. business inventories<\/p>\n
11:30 p.m. ET: IMF fireside chat with U.S. Federal Reserve chairman Kevin Warsh in Bangkok<\/p>\n
With Reuters and The Canadian Press<\/p>\n","protected":false},"excerpt":{"rendered":"Equities Global markets were mixed in nervous trading as a selloff in AI-related stocks deepened on fears that…\n","protected":false},"author":2,"featured_media":933885,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[3244,49,48,3245,3237,3240,2640,3242,3246,166,3247,44,3241,3239,3243,3238],"class_list":["post-933884","post","type-post","status-publish","format-standard","has-post-thumbnail","category-canada","tag-bonds","tag-ca","tag-canada","tag-canadian-dollar","tag-dow-jones","tag-equities","tag-futures","tag-gold","tag-loonie","tag-nasdaq","tag-newnewsletter","tag-news","tag-oil","tag-sd","tag-silver","tag-tsx"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/933884","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=933884"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/933884\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/933885"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=933884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=933884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=933884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}