Bank earnings drag Toronto market to eight-week low

📆 25/05/2023 05:21:00
📰 Reuters

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Canada's main stock market fell to its lowest closing level in nearly two months on Wednesday as two major banks reported quarterly earnings that missed analysts' estimates and U.S. debt deal uncertainty weighed on investor sentiment.

ended down 218.32 points, or 1.1%, at 19,927.69, its lowest close since March 29.

"The TSX is falling today in a broad-based rout, being dragged lower by the financial services sector after disappointing earnings from two major Canadian banks," said Brandon Michael, senior investment analyst at ABC Funds.

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