Resource stocks powered a sharp drop Wednesday on equities, while financials also plummeted.
The TSX dumped 584.18 points, or 1.6%, to greet the closing bell Wednesday at 35,751.43
The Canadian dollar sank 0.17 cents to 70.95 cents.
Americas Gold and Silver Corp lost 57 cents, or 6.8%, to $6.85, while NovaGold Resources was down 72 cents, or 6.6%, to $10.20, Endeavour Silver bottomed the TSX with a decline of $1.74, or 11.9%, to $13.05, after CIBC downgraded its rating on the stock.
Technology stocks added to the fall with heavyweight Shopify down $7.23, or 3.5%, to $200.46. The stock had risen over 15% in the last two sessions after partnering with Meta on AI-powered shopping.
The lone gainer was in health-care, where Curaleaf soared 44 cents, or 2.7%, to $16.80, while Extendicare jumped 78 cents, or 2.5% to $31.90.
U.S. President Donald Trump said ?talks with Iran in New York had made progress, but then ?threatened to "annihilate" the country if a deal was not ?reached.
On the economic slate, Statistics Canada says payroll numbers and retail trade are out for July.
ON BAYSTREET
The TSX Venture Exchange skidded 15.07 points, or 1.6%, to conclude the session at 924.73.
Eight of the 12 subgroups were lower, gold down 3.9%, materials sliding 3.6%, and financials off 1.7%.
The four gainers were led by health-care, climbing 1.3%, energy up 0.5%, and industrials, beating gaining 0.2%.
ON WALLSTREET
U.S. equities fell on Wednesday as Treasury yields marched higher amid concerns among investors that more interest rate hikes from the
Federal Reserve may be coming down the pike.
The Dow Jones Industrials caved 351.27 points to 51,512.42
The S&P 500 index lost 58.25 points to 7,706.39.
The NASDAQ Composite dropped 308.24 points, or 1.1%, to 26.936.04.
Declines in utilities, consumer discretionary and communication services stocks led the broader market’s fall, with the three sectors shedding more than 1% each.
Odds that the Fed would hike rates by a quarter percentage point in October stood above 60% on Wednesday. That’s up from 55.4% a day ago and just 8.8% one month ago.
Earlier Tuesday in his address to the U.N., Trump said he has a “big decision” over whether to reach a deal with Tehran or “annihilate” the country.
Prices for the 10-year Treasury tumbled sharply, raising yields to 5.11% from Tuesday’s 4.95%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.95 to $92.47 U.S. a barrel.
Gold prices flopped $56.20 to $4,320.20 U.S. an ounce.
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