It’s been a rough September, and Wednesday put no end to it, with equity markets facing down once again, weighed mostly by resource and utility issues.
The TSX Composite Index tumbled 120.17 points to 19,435.98.
The Canadian dollar gained 0.09 cents at 74.04 cents U.S.
Gold took the worst punishment Wednesday, with Lundin Gold fading 68 cents, or 4.2%, to $15.35, while Barrick Gold slipped 80 cents, or 3.9%, to $19.75.
Utilities were hit, too, with Brookfield Renewable Partners units sliding $2.48, or 7.1%, to $32.38, while Algonquin Power & Utilities dropped 42 cents, or 4.7%, to $8.51.
In materials, Lithium Americas down $1.31, or 5.6%, to $21.95, while Wheaton Precious Metals let go of $1.92, or 3.4%, to $54.29.
Shopify is investing in wholesale platform Faire, but the deal value and stake details remain undisclosed. Shopify shares closed Wednesday up 23 cents to $69.87.
Elsewhere, Bitfarms acquired four cents, or 2.9%, to $1.41, while Celestica shares jumped 86 cents, or 2.8%, to $31.36.
Peyto Exploration & Development was up $1.00, or 8%, to $13.56, as multiple brokerages raised their price targets on the Canadian exploration company. Elsewhere in energy, Athabasca Oil captured 17 cents, or 4.3%, to $4.15.
ON BAYSTREET
The TSX Venture Exchange dipped 7.04 points to 550.01.
All but two of the 12 TSX subgroups were lower, as gold plummeted 3.5%, while utilities turned lower 2.6%, and materials surrendered 1.8%.
The two gainers were energy, roaring ahead 2.2%, while information technology inched up 0.3%.
ON WALLSTREET
The Dow Jones Industrial Average fell Wednesday, building on the steep losses from the previous session, as an uptick in Treasury yields and oil prices dented investor sentiment.
The blue-chip index lost 68.61 points to conclude Wednesday at 33,550.27, following a Tuesday session which proved its worst day since March.
The S&P 500 index squeezed higher by 0.98 points to 4,274.51.
The NASDAQ index moved ahead 29.24 points to 13,092.85.
Those moves raised fears that inflation will persist, which will lead the Federal Reserve to keep rates higher for longer.
Energy was the best-performing sector, rising more than 2%. Notable gainers include Marathon Oil and Devon Energy, both up more than 4%.
The Commerce Department reported Wednesday morning that orders for durable goods rose 0.2% in August. That topped a Dow Jones estimate for a decline of 0.5%.
Prices for the 10-year Treasury fell back, raising yields to 4.61% from Tuesday’s 4.54%. Treasury prices and yields move in opposite directions.
Oil prices gathered $3.24 to $93.63 U.S. a barrel.
Gold prices cratered $25.20 to $1,894.60.
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