S&P/TSX composite down more than 100 points, U.S. stock markets also down
Canada's main stock index was down more than 100 points in late-morning trading led lower by losses in the energy and industrial sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 114.31 points at 20,515.24.
In New York, the Dow Jones industrial average was down 302.23 points at 33,431.73. The S&P 500 index was down 45.02 points at 3,971.93, while the Nasdaq composite was down 155.44 points at 11,178.83.
The Canadian dollar traded for 74.52 cents US compared with 74.79 on Tuesday.
The March crude contract was up 36 cents at US$80.49 per barrel and the March natural gas contract was down nine cents at US$2.96 per mmBTU.
The February gold contract was down US$4.30 at US$1,931.10 an ounce and the March copper contract was down two cents at US$4.23 a pound.
This report by The Canadian Press was first published Jan. 25, 2023
The Bank of Canada hiked its key interest rate by a quarter of a percentage point Wednesday, bringing it to 4.5 per cent. Here's a look at what the rate means, how analysts are interpreting it and what it could mean for consumers.
The federal government's latest TFSA contribution limit increase took effect as of January 1, 2023. Personal finance contributor Christopher Liew outlines how the government’s most recent TFSA contribution limit increase affects you and how to make the most of it.
Finding an affordable place to live in the territories, where housing has long been a challenge, is getting even harder, the Canada Mortgage and Housing Corporation suggested in a report released in December. In Yellowknife, the report said, the growing senior population, urbanization and strong labour market has pressured the housing supply.
Canada is suffering from a severe skills shortage in several key sectors, experts say, thanks to factors that include deficiencies in our education system as well as changing demographics. CTVNews.ca looks at some of the skills that will be most in-demand in 2023.
Bond portfolios took a beating in 2022 as interest rates climbed, but experts say investors shouldn't neglect bonds this year as the Bank of Canada nears the end of its rate hike cycle.
Even with a much cooler housing market, 2023 may still present opportunities for both buyers and sellers in Canada, one real estate broker says.
Canadian investors who made it through a tumultuous 2022 face further uncertainty in the year ahead amid increased recession risk. Investment professionals and personal finance experts say the easiest way to grow your money this year is to keep things simple.
opinion | What is the CERB advance payment?
In early 2020, 25.1 per cent of Canadians received $2,000 from the Canada Emergency Response Benefit, according to Statistics Canada. In his latest column on CTVNews.ca, personal finance contributor Christopher Liew explains how repayment works.