At midday: Canada, U.S. stocks tumble as technology rout deepens [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
At midday: Canada, U.S. stocks tumble as technology rout deepens Canada’s main stock index fell on Tuesday, dragged down by energy stocks as the rapid spread of COVID-19 infections in India raised concerns about oil demand. At 11:35 a.m. ET, the Toronto Stock Exchange’s S&P/TSX composite index was down 137.34 points, or 0.71%, at 19,222.33. It fell as low as 19,090.28 in morning trading. The energy sector dropped 1.7% with oil prices giving up early gains as concerns that rising COVID-19 cases in Asia will dampen demand outweighed expectations that a major U.S. fuel pipeline could restart swiftly. U.S. crude dipped 0.43% to $64.66 a barrel. Brent crude fell 0.35% to $68.10 per barrel. The materials sector, which includes precious and base metals miners and fertilizer companies, lost 0.6% as gold prices fell on Tuesday, weighed by rising U.S. Treasury yields, but the decline was capped by a weaker dollar, with investors awaiting U.S. consumer price data to gauge inflation. Spot gold fe
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