By Ketki Saxena
Investing.com – At the close in Toronto, the S&P/TSX Composite Index was at 19,999.69 points, down -3.07% in the day’s trading, extending losses from last week as concerns of a global economic slowdown dominated the market.
Driving these worries is the likelihood of aggressive monetary policy tightening by major central banks, following rate hikes last week from the Federal Reserve, the Bank of England, and the Reserve Bank of Australia.
Concerns of a slowdown are also being fuelled by a reported intensification of Covid-19 lockdowns in Shanghai. The lockdowns have now been ongoing since March and have hindered output from China, the world’s second largest economy.
All TSX sectors were in the red at the close today. The index was most weighed down by energy (-7.06%), materials (-5.62%) , and tech (-4.11%).
Enbridge (TSX:ENB) (-3.45%), Cenovus Energy (TSX:CVE) (-7.31%), and Suncor Energy (TSX:SU) (-5.07%) were amongst the most traded stocks on the TSX today.
The biggest gainers on the TSX today included Loblaw Companies Limited (TSX:L) (-3.95%), Jamieson Wellness Inc (TSX:JWEL) (+2.92%) and George Weston Limited (TSX:WN)(+2.25%), while Bausch Health (TSX:BHC) (-18.90%), Hut 8 Mining Corp (TSX:HUT) (-16.02%), and Energy Fuels Inc (TSX:EFR)(-14.64%) were amongst the biggest losers.