Canadian Stocks Decline
Canada's stocks benchmark dropped on Tuesday, underperforming its US counterpart. This decline was due to inflation quickening more than expected and falling gold prices affecting the mining sector.
The S&P/TSX Composite Index fell as much as 1.8% as of 11:55 a.m. in Toronto, heading for its worst day since April 10.
In contrast, the US benchmark, the S&P 500, gained for a third-straight session.
Canada’s stocks benchmark tumbled Tuesday, under-performing its U.S. counterpart as inflation in the country quickened more than expected while falling gold prices weighed on the mining sector.
Authors: Geoffrey Morgan and Monique Mulima (Bloomberg)
Summary: Canadian stocks fell due to rising inflation and declining gold prices.