Market sell-off is all about inflation: Avi Hooper
North American markets tumbled Tuesday after the latest reading on U.S. inflation disappointed traders, with Canada's main stock index down more than 300 points and all three major U.S. stock indexes seeing their worst day since June 2020.
The S&P/TSX composite index was down 341.83 points, or 1.71 per cent, to 19,645.40.
In New York, the Dow Jones industrial average was down 1,276.37 points at 31,104.97. The S&P 500 index was down 177.72 points at 3,932.69, while the Nasdaq composite was down 632.84 points at 11,633.57.
The Canadian dollar traded for 76.28 cents US compared with 77.04 cents US on Monday.
The October crude contract was down 47 cents at US$87.31 per barrel and the October natural gas contract was up three-and-a-half cents at US$8.28 per mmBTU.
The December gold contract was down US$23.20 at US$1,717.40 an ounce and the December copper contract was down five-and-a-half cents at US$3.56 a pound.
-- With files from BNN Bloomberg