Canada's main stock index hit over a month low on Tuesday with mining and health-care stocks leading broader declines as investors caught up to Monday's global stocks rout after a Canadian market holiday.
The TSX Composite Index sank 359.77 points, or 1.6%, to stumble into noon hour EDT at 21,867.86.
The Canadian dollar nicked higher 0.07 cents at 72.50 cents U.S.
Suncor Energy is expected to report its quarterly earnings after the closing bell. The oil giant handed over 48 cents to $50.45.
Markets in Toronto were closed Monday for Civic Day.
ON BAYSTREET
The TSX Venture Exchange tumbled 15.71 points, or 2.8%, to 539.85.
All but one of the 12 TSX subgroups were lower, weighed most by materials, dropping 3.2%, while health-care and gold each lost 3.1%.
The lone gainer proved to be in communications, up 0.4%.
ON WALLSTREET
Stocks jumped Tuesday, recovering some losses from the previous trading session.
The Dow Jones Industrial index recovered 467.16 points, or 1.6%, to 39,170.43.
The S&P 500 index gained 89.11 points to 5,275.44.
The NASDAQ popped 286.96 points, or 1.8%, to greet noon hour at 16,487.04.
Several big technology stocks rebounded after a sharp pullback on Monday. Nvidia rose 3.6%, while Meta Platforms advanced 2.5%.
Meanwhile, Apple continued its decline and fell nearly 2%.
Helping sentiment was a rebound in Japanese stocks. The Nikkei 225 posted its best day since October 2008, soaring 10.2%. That surge comes a day after the benchmark suffered its worst day since 1987, losing 12.4%.
The moves follow a sharp selloff during Monday trading amid concerns over the state of the economy. The 30-stock Dow dropped 1,033.99 points, or 2.6%, while the S&P 500 slid 3%. Both indexes notched their worst sessions since September 2022. The NASDAQ Composite shed 3.4%, tumbling deeper into a correction.
Prices for the 10-year Treasury sank, with yields growing to 3.87% from Monday’s 3.84%. Treasury prices and yields move in opposite directions.
Oil prices gained 64 cents at $73.58 U.S. a barrel.
Gold prices moved lower $15.90 to $2,428.50.
