S&P/TSX composite down in late-morning trading, U.S. stocks also lower
Losses in the base metals sector helped lead Canada's main stock index lower in late-morning trading, while U.S. stock markets also fell.
The S&P/TSX composite index was down 35.50 points at 20,689.50.
In New York, the Dow Jones industrial average was down 82.04 points at 34,074.65. The S&P 500 index was down 29.66 points at 4,134.34, while the Nasdaq composite was down 149.49 points at 11,964.30.
The Canadian dollar traded for 74.45 cents US compared with 74.43 cents US on Tuesday.
The March crude contract was up 91 cents at US$78.05 per barrel and the March natural gas contract was down nine cents at US$2.50 per mmBTU.
The April gold contract was up US$2.70 at US$1,887.50 an ounce and the March copper contract was down four cents at US$4.04 a pound.
This report by The Canadian Press was first published Feb. 8, 2023
MORE Business News
opinion | What happens if you mistakenly get a larger tax refund?
Was your 2022 tax refund larger than you expected it to be?
How to claim Ontario's staycation tax credit on your tax return
People in Ontario who vacationed in the province last year can claim the trip on their upcoming tax returns, and here’s how to do it.
Thinking of an alternative lender? What it could mean for your mortgage
As economic conditions make it harder to qualify for a mortgage, Canadians are increasingly looking to alternative lenders, particularly amid interest rates. CTVNews.ca looks at why Canadians are seeking private lenders and the potential benefits and risks attached to them.
opinion | Tips on how to get the most out of your TFSA
The federal government's latest TFSA contribution limit increase took effect this year. On CTVNews.ca, personal finance contributor Christopher Liew outlines eight tips on how Canadians can get the most out of this popular savings account.
opinion | These are the new tax brackets for 2023
There are going to be some changes to Canada's tax brackets as we move into 2023. These changes could impact how you’re taxed when you file your 2023 income tax returns next year.
Canadian food bloggers share tips, tricks to make filling budget-friendly meals
Food bloggers and cookbook authors say meal-planning and simple recipes can help home cooks put together filling and tasty dishes on a budget -- an increasingly stressful challenge amid rising food prices.
Canadians fell for more home improvement scams in 2022, new report finds
The Better Business Bureau says Canadians fell for home improvement scams the most in 2022, in a report highlighting the riskiest scams and how much money they cost Canadians.
'Not every sale is a bargain': How to avoid common money mistakes
In light of new poll results that found Canadians are spending a lot of time worrying about money, one personal finance expert shares some simple tips to help Canadians avoid making some common, costly mistakes with their cash.