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S&P/TSX composite down, U.S. stock markets also fall ahead of Nvidia earnings

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TORONTO — Canada's main stock index fell on Wednesday, led by technology and base metals, while U.S. markets were also down ahead of a much-anticipated earnings report from Nvidia. The Nasdaq fell 1.1 per cent as large tech stocks led the way lower.

TORONTO — Canada's main stock index fell on Wednesday, led by technology and base metals, while U.S. markets were also down ahead of a much-anticipated earnings report from Nvidia.Investors moved with caution in a risk-off day ahead of earnings coming from Nvidia after the bell, said Angelo Kourkafas, senior investment strategist at Edward Jones.

The earnings report from the semiconductor giant is likely to set the tone for the rest of the week, said Kourkafas, noting that the bar is high for the company that’s helped lead a narrow rally so far this year. In New York, the Dow Jones industrial average was down 159.08 points at 41,091.42. The S&P 500 index was down 33.62 points at 5,592.18, while the Nasdaq composite was down 198.79 points at 17,556.03.Next week, U.S. market watchers will get fresh data on the job market, a key data point as the next interest rate decision from the central bank looms.

 

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