Oil drags on TSX; U.S. stocks lower on China concerns [Business News Network (BNN) Energy & Resources (Canada)]
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Source: Business News Network
Oil drags on TSX; U.S. stocks lower on China concerns TORONTO -- North American stock markets fell midweek on escalating trade tensions over a trade deal with China and crude oil prices hitting their lowest level in nearly five months. "The appetite for risky assets remained elusive Wednesday and investors remained on edge as U.S.-China trade tensions came back in full focus," says Candice Bangsund, portfolio manager for Fiera Capital. Among the drivers of investor concerns were comments from U.S. President Donald Trump that he won't make a deal with China unless Beijing agrees to four or five major points. It's still unclear if negotiations will reconvene at the upcoming G20 Summit in Japan with Commerce Secretary Wilbur Ross saying that even if they do a formal accord is unlikely at this event. The S&P/TSX composite index closed down 21.52 points to 16,227.24. Eight of the 11 major sectors were up led by materials, technology and telecommunications. However, the heavyweight energy a
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