Canada’s main stock index opened lower with commodities-linked stocks feeling the pinch. Here's what you need to know about stock markets today ⬇️
Canada’s main stock index opened lower Monday with commodities-linked stocks feeling the pinch. On Wall Street, key indexes also started the week in the red as traders look ahead to the midweek policy decision from the Federal Reserve.
The S&P 500 opened lower by 23.42 points, or 0.60 per cent, at 3,849.91, while the Nasdaq Composite dropped 109.84 points, or 0.96 per cent, to 11,338.57 at the opening bell.from the Fed. The U.S. central bank’s two-day meeting begins tomorrow, culminating in a policy move on Wednesday afternoon.
Overseas, the pan-European STOXX 600 was down 0.72 per cent by midday. Markets in Britain were closed. Germany’s DAX fell 0.56 per cent. France’s CAC 40 slid 1.02 per cent.Crude prices were down in early going, hit by continued demand concerns as central banks continue to push borrowing costs higher.
Ahead of Wednesday’s Fed decision, the greenback has held near recent two-decade highs, making crude more expensive for holders of other currencies. The day range on the loonie was 75.08 US cents to 75.47 US cents in the premarket period. In early European trading, the loonie touched its lowest level in nearly two years against the U.S. dollar.
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