By Ketki Saxena
Investing.com – At the close in Toronto, the S&P/TSX composite was at 20,762.00 points, down 1.70% in the day’s trading.
The TSX tracked Wall Street lower following higher than expected U.S. monthly inflation data and disappointing results from Amazon (NASDAQ:AMZN), which investors worry are indicative of a larger slowdown in the retail sector.
Canada’s commodity heavy index was also weighed down by crude, which settled lower today on a day of volatile trading ahead of heating oil futures contract expiration today. Volatility in crude is also being affected by both supply fears in the context of an EU embargo on Russian oil, and demand concerns related to lockdowns in China.
In New York, the Dow Jones was down -2.77%, the S&P 500 slipped 3.54% %, and the Nasdaq was 4.17%. as U.S. equities were weighed down by Amazon, down 14.05% in the day’s trading.
Apple (NASDAQ:AAPL), down 3.66%, also weighed on the S&P despite beating analyst expectations on earnings.
In bonds and yields
Bond yields continued to rise, with yields on the Government of Canada’s benchmark 10 year treasury higher at 2.894%, and yields on the 5 year treasury were higher at 2.764%.
Yields on the benchmark U.S. treasury were higher at 2.902%.
The dollar retreated against a basket of currencies following inflation figures. The U.S. dollar index was down 0.44% in the day’s trading, but at 103.17 points remains at a relative high as concerns of a global slowdown and expectations of aggressive hikes from the Federal Reserve keep demand for the greenback high.
The USD/CAD pair was up 0.38%, at C$1.2854 to a U.S. dollar.