TORONTO — Canada's main stock index was down almost 200 points in a broad-based decline led by financials, utilities and base metals, while U.S. stock markets were mixed. The S&P/TSX composite index closed down 182.42 points at 21,887.34.
TORONTO — Canada's main stock index was down almost 200 points in a broad-based decline led by financials, utilities and base metals, while U.S. stock markets were mixed.In New York, the Dow Jones industrial average was down 120.62 points at 38,747.42. The S&P 500 index was up 14.53 points at 5,375.32, while the Nasdaq composite was up 151.02 points at 17,343.55.
Markets spent the day waiting for Wednesday, when investors will get the latest data on U.S. consumer inflation in the morning and an interest rate decision in the afternoon, said Dustin Reid, vice-president and chief strategist for fixed income at Mackenzie Investments. The last projection was for three rate cuts in 2024, but after a string of stronger-than-expected economic data reports, it’s now “a very fine line between one and two,” he said.
“All the big data releases, I would even say some of the secondary releases, continue to matter significantly,” he said.
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