TORONTO, June 23 (Reuters) – Canada’s main stock index edged down on Tuesday as lower commodity prices and a tech-led selloff on Wall Street weighed on the market, with metal mining shares leading the declines.<\/p>\n
\n The Toronto Stock Exchange’s S&P\/TSX Composite Index ended down 74.8 points, or 0.2%, at 34,927.38, after clawing back much of its earlier declines.<\/p>\n
\n o The Nasdaq and the S&P 500 posted steeper declines, dragged down by sharp losses in semiconductor stocks as investors scrutinized growing debt-funded AI spending and braced for a more hawkish U.S. Federal Reserve.<\/p>\n
\n o “You’ve got a broader tech selloff filtering into Canada, plus a selloff in commodity prices,” said Michael Dehal, senior portfolio manager at Dehal Investment Partners at Raymond James.<\/p>\n
\n o “The TSX is largely commodities-driven (so) we’re getting hit from both ends of the spectrum,” Dehal said.<\/p>\n
\n o The price of gold fell 1.9% as the U.S. dollar climbed to a 13-month high against a basket of major currencies on increased expectations of a Fed interest rate hike.<\/p>\n
\n o Copper was down 3.4%, while oil settled 0.9% lower at $73.21 a barrel as investors kept a close watch on crude flows through the Strait of Hormuz following signs of progress in U.S.-Iran peace talks.<\/p>\n
\n o The materials group tumbled 4.4%, while technology ended 0.4% lower.<\/p>\n
\n o Shopify Inc will ban all vapes from its platform as soon as this week after pressure from a group of U.S. state attorneys general. Shares of the e-commerce company ended 0.2% higher.<\/p>\n
\n o Seven of 10 major sectors notched gains, including consumer staples, which jumped 4.1%.<\/p>\n
\n o Alimentation Couche-Tard Inc shares were up 11.7% after the convenience store operator’s quarterly results beat estimates.<\/p>\n
\n (Reporting by Fergal Smith in Toronto and Tharuniyaa Lakshmi in Bengaluru; Editing by Jonathan Ananda and Aurora Ellis)<\/p>\n
\n By Tharuniyaa Lakshmi and Fergal Smith<\/p>\n","protected":false},"excerpt":{"rendered":"TORONTO, June 23 (Reuters) – Canada’s main stock index edged down on Tuesday as lower commodity prices and…\n","protected":false},"author":2,"featured_media":508228,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[114,85,46,190],"class_list":["post-508227","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-il","tag-israel","tag-markets"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/508227","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=508227"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/508227\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/508228"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=508227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=508227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=508227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}