Baystreet.ca - Canada's main stock index opened lower on Tuesday amid broader losses led by technology shares as escalating tensions between Russia and Ukraine triggered a risk-off sentiment globally.
The TSX tumbled 159.93 points to open Tuesday at 24,817.01.
The Canadian dollar gained 0.16 cents to 71.48 cents U.S.
In matters economic Tuesday, Statistics Canada reported its Consumer Price Index rose 2.0% on a year-over-year basis in October, up from a 1.6% increase in September. On a seasonally adjusted monthly basis, the CPI rose 0.3% in October.
ON BAYSTREET
The TSX Venture Exchange inched up 1.07 points to 595.24.
All but two of the 12 subgroups were in the red. Health-care issues faded 1.6%, consumer staples lost 1.2%, and industrials dipped 1.1%.
The two gainers were gold, better by 0.8%, and materials, ahead 0.5%.
ON WALLSTREET
Stocks fell Tuesday as investors fled to safety amid rising geopolitical tensions between Ukraine and Russia.
The Dow Jones Industrials cratered 362.92 points to 43,026.68.
The S&P 500 faded 25.84 points to 5,867.78.
The NASDAQ Composite docked 39.85 points to 18,751.95.
The market pressure began overnight after Russian President Vladimir Putin warned the U.S. that the threshold for the use of nuclear weapons had lowered, a new stance coming after President Joe Biden allowed Ukraine to use U.S. weapons to strike inside Russia.
Then losses accelerated on news that Ukraine hit Russian border region Bryansk with U.S.-made missiles, according to the Russian military. The New York Times (NYSE:NYT) confirmed the attack, citing U.S. and Ukrainian officials. The attack was on an ammunition warehouse, according to the report.
One bright spot was Walmart (NYSE:WMT), which rose 3% after posting strong earnings and hiking its outlook on strong discretionary spending.
Prices for the 10-year Treasury jumped, lowering yields to 4.37 % from Monday’s 4.42%. Treasury prices and yields move in opposite directions.
Oil prices gained 44 cents to $69.60 U.S. a barrel.
Prices for gold took on $16.10 an ounce to $2,630.70 U.S.