By Commodity News Service Canada
WINNIPEG, MB, Feb. 6, 2018 (CNS Canada) – The Canadian
dollar was down Tuesday morning as stock markets around the
world continued to weaken.
At 8:46 CST Tuesday morning the Canadian dollar was at
US$0.7969 or C$1.2521, which compares with Monday’s North
American close of US$0.8011 or C$1.2483.
Oil prices extended Monday’s losses Tuesday, tracking the
broader market as stock futures pointed towards another day of
sharp declines. Brent crude dropped 79 cents to US$66.83 per
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The world stock markets continued their nosedive for a
fourth straight day Tuesday, having seen nerves about higher
interest rates and overcooked valuations wipe US$4 trillion off
of what was just eight days ago record highs. Traders have found
themselves switching to focusing on trading traditional
investments such as gold and the dollar.
The Dow Jones Industrial Average opened almost another two
per cent lower Tuesday, after two days of heavy losses which
have undermined faith in the United States stock market’s almost
decade-long rally. The Dow Jones dropped 536.97 points, or 2.21
per cent, to 23,808.78. The S&P 500 fell 49.06 points, or 1.85
per cent, to 2,599.88. The Nasdaq Composite lost 128.97 points,
or 1.85 per cent, to 6,838.56.
The Toronto TSX/S&P Composite Index hit a five-month low
Tuesday, as a selloff in global markets weighed on investor
sentiment, while domestic data showed a wider-than-expected
trade deficit. The TSX/S&P dropped 161.22, or 1.05 per cent, to
15,173.59.
