Canadian Stocks Decline as Gold Prices Fall and Inflation Rises
Canada's stocks benchmark dropped on Tuesday, underperforming its US counterpart due to accelerating inflation and declining gold prices affecting 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.
- Inflation in Canada quickened more than expected.
- Falling gold prices weighed on the mining sector.
- The S&P 500, the US benchmark, gained for a third-straight session.
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.
Author's summary: Canadian stocks drop amid inflation and gold price decline.