Equities in this country followed the path of their American neighbours, and lurched lower Tuesday, weighed most by consumer stocks.
The TSX flopped 120.46 points to close Tuesday at 35,582.07.
The Canadian dollar fell 0.10 cents to 71.84 cents.
Energy stocks proved the only group making headway. Headwater Exploration took on 74 cents, or 5.3%, to $14.59, while Tamarack Valley captured 66 cents, or 4.9%, to $14.27.
It appears, though, that’s the only morsel of positive news Tuesday. In consumer discretionary stocks, Restaurant Brands international dived $3.96, or 3.6%, to $105.64, while BRP Inc. slid $2.77, or 3.3%, to $73.85.
In consumer staple issues, George Weston slumbered $2.59, or 2.5%, to $99.28, while Alimentation Couche-Tard tottered $2.25, or 2.8%, to $79.66.
In real-estate, Colliers International handed over $4.51, or 3.5%, to $126.19, while FirstService lost $6.29, or 3.3%, to $192.19.
Economically speaking, Prime Minister Mark Carney unveiled immediate tax write-offs for most new capital investments in a bid to spur growth and attract foreign capital.
Elsewhere, the Canadian Real Estate Association told us the number of home sales recorded over Canadian MLS Systems decreased by 0.7% on a month-over-month basis in August. Monthly activity has now remained largely unchanged since May.
Elsewhere, Statistics Canada reported wholesale sales inched up 0.3% in July, compared to a rise of 2.8% in June.
Moreover,176,000 new motor vehicles were sold in Canada in July, down from 190,200 from the same month the previous year.
ON BAYSTREET
The TSX Venture Exchange lost 18.89 points, or 2.1%, to 900.98.
All but one of the 12 subgroups were lower to end Tuesday, weighed mostly by consumer discretionary stocks, down 2.4%, while real-estate surrendered 2%, and consumer staples trailed 1.9%.
The lone gainer proved to be energy, acquiring 2.8%.
ON WALLSTREET
Stocks in the U.S. fell on Tuesday as traders looked ahead to the Federal Reserve’s policy decision this week — which could send ripples through the economy — and as Treasury yields surged to multiyear highs.
The Dow Jones Industrials skidded 328.45 points to 52,092.75
The S&P 500 index waned 34.21 points to 7,585.57
The NASDAQ Composite lost 204.84 points to 25,981.57.
Losses in the S&P 500 and NASDAQ were mitigated by gains in numerous stocks connected to artificial intelligence, which were under pressure in the prior trading day. Coherent added more than 1%, while Advanced Micro Devices gained 2%. Qualcomm advanced 5%.
Prices for the 10-year Treasury gained back some strength during Tuesday, raising yields to 5% from Monday’s 4.99%. Treasury prices and yields move in opposite directions.
Oil prices hiked $4.39 to $105.78 U.S. a barrel.
Gold prices lost $16.90 to $4,323.10 U.S. an ounce.
