Canadian Stocks Decline
Canada's stocks benchmark dropped on Tuesday, underperforming its US counterpart. This decline was due to inflation quickening more than expected and falling gold prices weighing on the mining sector.
The S&P/TSX Composite Index fell as much as 1.8% as of 11:55 a.m. in Toronto, heading for its worst day since April 10.
Canada’s stocks benchmark tumbled Tuesday, under-performing its U.S. counterpart as inflation in the country quickened more than expected while falling gold prices weighed on the mining sector.
The performance stands in contrast to the US benchmark, the S&P 500, which is gaining for a third-straight session.
Author's summary: Canadian stocks drop due to inflation and gold prices.
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