The trading tensions came as markets in both Canada and the U.S. pushed new lows for the year that had some investors wondering if the selling had gone too far, while U.S. Treasury yields continued to push higher on expectations of rising interest rates.
The S&P/TSX Composite Index ended down 19.13 points at 18,307.91 for its lowest level since February 2021 after trading as high as 18,546.76 in the day. The gains came as the November crude contract was up US$1.79 at US$78.50 per barrel, while the November natural gas contract was down 25.4 cents at US$6.76 per mmBTU.
There were several indicators out Tuesday that hinted at continued economic strength in the U.S., including housing starts and consumer confidence that came ahead of expectations, said Maloney.
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