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TSX Hits Lowest Level in a Year on Fed Fears, Bond Market Selfoff

Published 2023-10-03, 03:57 p/m
Updated 2023-10-03, 03:57 p/m
© Reuters.

By Ketki Saxena -- Canada's main stock index, the S&P/TSX Composite index declined to its lowest level since last October, after yesterday's comments from US Federal Reserve officials that interest rates will need to stay restrictive for "some time". Fears that the Fed may hike rates one more time this year sent US Treasury yields to fresh 16 year highs, while Canada's benchmark 10 year bond yield also touched 16 year highs.

The commodity heavy Canadian index was also pressured by falling metal prices.

Canadian Stock Market News

Brookfield Asset Management (TSX:BN) Ltd. announced that it has raised US$12 billion for its new global private equity fund, Brookfield Capital Partners VI. Brookfield has so far committed US$3.5 billion to the fund.

Lundin Mining (TSX:LUN) shares dropped after the company announced a new CEO, company announced insider Jack Lundin.
For earnings, view our earnings calendar.

Toronto Stocks Moving Markets Today

Top Gainers on the TSX Today:

  • IAMGold Corporation (TSX:IMG)
  • Osisko Mining (TSX:OSK)
  • First Majestic Silver (TSX:FR)

Top Losers on the TSX Today:

  • Lundin Mining Corporation (TSX:LUN)
  • Shopify (TSX:SHOP)
  • Canfor (TSX:CFP) Corp

For all Canadian Stocks Moving Markets today, view our Canada Markets Page.

In Canadian Economics

No major economic data.

For all Canadian economic releases, view our economic calendar.

All currencies CAD, unless stated otherwise.

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