Equities in Toronto followed their American brethren lower Tuesday, as chip stocks waned.
The TSX Composite Index dropped 62.7 points to conclude Monday at 35,212.14
The Canadian dollar lost 0.04 cents at 70.34 cents U.S.
On the economic front, Canada's merchandise exports increased 0.9%, while imports edged down 0.2%. As a result, Canada's merchandise trade surplus with the world widened from $3.4 billion in April to $4.2 billion in May.
Later this morning, the IVEY Purchasing Managers Index will be announced for June.
ON BAYSTREET
The TSX Venture Exchange was down 14.07 points, or 1.5%, to 924.21.
ON WALLSTREET
NASDAQ futures fell Tuesday, weighed down by a decline in chip stocks as investors once again appear to rotate out of names tied to artificial intelligence.
Futures for the 30-stock index leaped 168 points, or 0.3%, to 53,540.
Futures for the S&P 500 slipped 9.25 points, or 0.1%, to 7,582.25
Futures for the NASDAQ Composite stumbled 255 points, or 0.8%, to 29,686
Shares of Micron were last seen 5% lower in pre-market trading, with KLA, Marvell Technology, Nvidia, Broadcom and AMD also posting declines. Meanwhile, SpaceX shed about 2% ahead of its Tuesday entrance into the NASDAQ 100.
Investors will watch for economic data on the U.S. trade deficit due Tuesday morning. There are no major earnings releases scheduled.
In Japan, the Nikkei 225 tumbled 2.1% Tuesday, while in Hong Kong, the Hang Seng hesitated 0.5%.
Oil prices gained 42 cents to 68.97 cents U.S. a barrel.
Gold prices shone brighter $13.90 to $4,181.40 U.S an ounce.
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