Canada's main stock index fell on Tuesday in broad-based declines led by bank stocks, which were pressured by turmoil in European markets following an Italian lawmaker's anti-euro comments.
The S&P/TSX Composite Index withered 87.2 points to conclude Tuesday at 16,017.23
The Canadian dollar hesitated 0.05 cents to 78.01 cents.
The lawmaker, Claudio Borghi, said most of Italy's problems would be resolved if it readopted a national currency.
Health-care stocks sagged the worst, as cannabis producers Aphria slumbered $1.79, or 10.1%, to $15.97, and Aurora Cannabis fell 49 cents, or 3.9%, to $11.97.
Tech stocks faltered, as BlackBerry fell 57 cents, or 4.1%, to $13.31, while Constellation Software doffed $15.62, or 1.7%, to $924.37.
Energy stocks gave back gains from Monday, as Canadian Natural Resources dished off $1.08, or 2.5%, to $41.99, while Imperial Oil shed 14 cents to $42.72.
Gold stocks led the gainers, though Eldorado Gold was unchanged, after spending much of the day positive, ending at Monday’s $1.17. Elsewhere among golds, Barrick Gold sprinted 64 cents, or 4.5%, to $14.92.
Materials were also positive, Agnico Eagle Mines popped $2.13, or 4.9%, to $45.82, while First Majestic Silver gained 16 cents, or 2.2%, to $7.41.
In consumer staples, Metro hiked 46 cents, or 1.2%, to $40.40, while Empire Company gained 16 cents to $23.30.
ON BAYSTREET
The TSX Venture Exchange fell back 3.67 points to 704.46
Eight of the 12 subgroups ended the day negative country, with health-care sagging 4.3%, information technology sliding 2.6%, and energy, down 1.9%.
The four gainers were led by gold, shining 3.6% brighter, materials, up 1.3%, and consumer staples, better by 0.4%.
ON WALLSTREET
The Dow Jones Industrial Average hit a record high on Tuesday as it rallied for a second day, boosted by gains in Intel and optimism around global trade.
The 30-stock index popped 122.73 points greet the closing bell at 26,773.94, as Intel climbed more than 3.5%. Tuesday marked the Dow's first record close since Sept. 21. Boeing shares also hit a record to lift the Dow. The Dow had posted strong gains in the previous session, which was the first of the fourth quarter.
The S&P 500 dipped 1.16 points to 2,923.43
The NASDAQ swooned 37.76 points to 7,999.55, as large-cap tech names fell more than 1%.
Amazon shares dropped 1.6% after the company announced it would raise its minimum wage to $15 per hour for all U.S. employees. Facebook, meanwhile, dropped nearly 2%.
Boeing climbed 1.1% while Caterpillar gained 1.7%. The two stocks are seen as bellwethers for trade given their exposure overseas.
Major banks took tumbles, as Citigroup and Bank of America both dropped more than 1% before recovering most losses.
Luigi Di Maio, the head of the Five Star Movement in Italy, defended the country's 2.4% deficit target for 2019. Di Maio accused European Union officials of deliberately upsetting capital markets through negative comments about the budget.
On top of that, Borghi, a euro-skeptic economist who chairs the budget committee of the lower house of Italy's parliament, said in a radio interview Tuesday that he was "truly convinced" most of the country's problems would be solved if it had its own currency.
Now that trade concerns between the U.S. and Canada are behind them, investors will be looking to China, to see if Beijing and Washington can find a way to meet eye-to-eye on certain trade elements.
Prices for the benchmark for the 10-year U.S. Treasury gained sharply, lowering yields to 3.06% from Monday’s 3.09%. Treasury prices and yields move in opposite directions.
Oil prices dropped 17 cents at $75.13 U.S. a barrel.
Gold prices vaulted $15.20 to $1,206.90 U.S. an ounce.
