Canadian stocks tumbled on across the board selling Wednesday as data showing continued surge in inflation and looming interest rate hikes weighed on sentiment.
A sell-off in European and the
The benchmark S&P/TSX Composite Index ended with a loss of 389.63 points or 1.9% at 20,101.38, around 60 points off the day’s low of 20,040.48.
Healthcare, consumer discretionary and consumer staples stocks tumbled. Materials, industrials, financials, energy and technology stocks too declined sharply.
The Health Care Capped Index drifted down 4.44%.
Consumer discretionary stocks
In the consumer staples section,
In the technology section,
Data released by
Core consumer prices in
European stocks closed lower on Wednesday, weighed down by concerns about soaring inflation and the likely impact on growth the aggressive policy tightening by central banks might cause in the near to medium term.
The pan European Stoxx 600 ended 1.14% down. The