TSX plunges 2.3% with all sectors in red, loonie down

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TSX plunges 2.3% with all sectors in red, loonie down

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 TSX plunges 2.3% with all sectors in red, loonie down
Image source: Copyright © 2021 Kalkine Media Pty Ltd.

The TSX Composite Index on Thursday, May 5, crashed by 488.78 points, 2.31 per cent, to 20,696.17. This undoes the gains of the last two days and takes the benchmark index into red territory for May. Discernably, the index has experienced volatility in Q2 2022 so far in comparison with Q1 2022.

Energy took the least beating, down 0.9 per cent. Healthcare, IT, and base metals plunged by about six, 6.5 and five per cent, respectively. The financial sector fell by about two per cent.

One-year price chart (May 5). Analysis by © 2022 Kalkine Media®

Volume actives

Enbridge Inc saw 17.7 million shares traded, making it the most active stock. It was followed by Cenovus Energy Inc that saw over 12.6 million shares switch hands, and Manulife Financial Corporation saw 11.6 million shares traded.

Movers and laggards

Wall Street updates

On Wall Street too there were significant drops. The Dow sank 1,063.09 points, 3.12 per cent, to 32,997.97 points, while the S&P 500 was down 153.3 points, 3.56 per cent, to 4,146.87 points. Nasdaq’s benchmark plunged 647.17 points, nearly five per cent, to 12,317.69.

Commodities update

Gold was up 0.31 per cent to US$ 1,874.50. The price of Brent oil was up 0.82 per cent and was at US$ 111.04/bbl and that of crude oil was up 0.84 per cent to US$ 108.72/bbl.

Currency news

The loonie lost 0.76 per cent compared to the US dollar while USD/CAD ended at 1.2828. The US Dollar Index was at 103.58 against the basket of major currencies, up one per cent.

Money market

The US 10-year bond yield gained 3.6 per cent to 3.052 and the Canada 10-year bond yield was up 3.48 per cent to 3.047.

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