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TSX Futures Slide Amid Global Market Turmoil
Futures linked to Canada’s main stock index took a tumble on Tuesday, echoing the brutal sell-off seen across global markets on Monday. The trigger? Recession fears in the United States.
September futures on the S&P/TSX index were down 1.8% at 6:48 a.m. ET (10:48 GMT). Investors worldwide scrambled toward safe-haven assets after weaker U.S. economic data last week raised concerns about a recession in the world’s largest economy.
While investor sentiment was partially soothed by a rebound in U.S. services sector activity and signals of rate cuts from Federal Reserve policymakers, the benchmark U.S. S&P 500 and Nasdaq both closed 3% lower on Monday.
Canadian markets were closed for a holiday, but attention remains on domestic employment figures due later this week and a host of Fed policymakers scheduled to speak throughout the month.
In corporate news, Suncor Energy and iA Financial are set to report their quarterly figures after the closing bell today.
Commodities at 6:48 a.m. ET:
- Gold futures: $2,423 (+0.5%)
- U.S. crude: $73.32 (+0.5%)
- Brent crude: $76.62 (+0.4%)
Stay tuned for further updates as the market volatility continues.
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