TSX suffers triple-digit loss as nearly all sectors slip, loonie down

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Canada’s main equity index started the week off with a triple-digit loss of 136.46 points on Monday, August 22.

The S&P/TSX composite index closed at 19,974.92 due to a broad-based pullback ahead of the upcoming Federal Reserves meeting on Friday, August 26.

The energy sector, which was up by 0.89 per cent, was the only gainer on Monday. On the other side, the healthcare sector decreased by 3.1 per cent, followed by the information technology (IT) sector, which lost 1.57 per cent. The financial sector also slumped by 1.4 per cent. The industrials, telecommunication, utilities and base metals sectors slipped slightly into the red zone.


One-year price chart of TSX Composite Index along with SMA 20-day, SMA 30-day, SMA-50-day (August 22). Analysis by © 2022 Kalkine Media®).

Volume Active

Manulife Financial Corporation (TSX: MFC) stock was the most active on the Toronto Stock Exchange (TSX), with a trading volume of 28.13 million on August 22. Sun Life Financial (TSX: SLF) was the second in the volume active list, with 15.02 million SLF shares exchanging hands. Barrick Gold (TSX: ABX) was the third active stock, with 13.52 million ABX shares switching hands this day.

Wall Street update

The United States stock markets were also in the red as the NASDAQ Composite Index closed at 12,381.57, down by 2.54 per cent, on August 22. The NYSE Composite Index also moved lower by 1.58 per cent to 15,341.85 at market close. Further, the Dow Industrials index plunged by 1.91 per cent, and the S&P 500 slid by 2.14 per cent.

Commodities

Gold prices closed at 1,748.4 per troy ounce, down by 14.5 points or 0.82 per cent. The Crude Oil WTI Futures gained by 0.85 per cent to US$ 90.23 a barrel on August 22, while Brent Oil Futures plummeted by 0.25 per cent to US$ 96.48 per barrel.

Currency news

The CAD/USD slipped by 0.47 per cent to 0.76. Meanwhile, the CAD/EUR was at 0.76, up by 0.45 per cent. The US Dollar Index Futures also spiked by 0.82 per cent to close at 108.98 on Monday, August 22.

Bond Market

The 10-Year Bond Yield in Canada rose to 3.03 on August 22, up by 2.78 per cent. Meanwhile, in the United States, the 10-Year Bond Yield reached 3.02, up by 1.24 per cent.


 


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