S&P/TSX composite down for first week since early May on interest rate hike prospects

·1 min read

TORONTO — Canada's main stock index had its first losing week since early May and dropped below the 20,000-point milestone for the first time in two weeks as the prospect of early interest rate hikes rattled investors.

The S&P/TSX composite index closed down 144.45 points to 19,999.59.

In New York, the Dow Jones industrial average was down 533.37 points or 1.6 per cent at 33,290.08. The S&P 500 index was down 55.41 points at 4,166.45, while the Nasdaq composite was down 130.97 points at 14,030.38.

The Canadian dollar traded for 80.52 cents US compared with 81.03 cents US on Thursday.

The August crude oil contract was up 51 cents at US$71.29 per barrel and the July natural gas contract was down 3.8 cents at nearly US$3.22 per mmBTU.

The August gold contract was down US$5.80 at US$1,769.00 an ounce and the July copper contract was down 2.1 cents at almost US$4.16 a pound.

This report by The Canadian Press was first published June 18, 2021.

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

The Canadian Press

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