North American stock markets fall as technology takes hit from higher bond yields

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TORONTO — North American stock markets lost some ground as the technology and materials sectors took hits from rising bond yields.

The S&P/TSX composite index closed down 100.93 points to 18,320.67.

In New York, the Dow Jones industrial average was down 121.43 points at 31,270.09. The S&P 500 index was down 50.57 points at 3,819.72, while the Nasdaq composite was down 361.04 points or 2.7 per cent at 12,997.75.

The Canadian dollar traded for 79.17 cents US compared with 79.20 cents US on Tuesday.

The April crude oil contract was up US$1.53 at US$61.28 per barrel and the April natural gas contract was down 2.3 cents at nearly US$2.82 per mmBTU.

The April gold contract was down US$17.80 at US$1,715.80 an ounce and the May copper contract was down eight cents at US$4.14 a pound.

This report by The Canadian Press was first published March 3, 2021.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)

The Canadian Press