S&P/TSX composite falls from record highs on rising bond yields after Fed comments

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TORONTO — Canada's main stock index pulled back from record highs on weakness in the energy and technology sectors amid rising bond yields.

The S&P/TSX composite index closed down 146.63 points to 18,836.47, a day after surpassing 19,000 for the first time.

In New York, the Dow Jones industrial average was down 153.07 points at 32,862.30. The S&P 500 index was down 58.66 points at 3,915.46, while the Nasdaq composite was down 409.03 points or three per cent to 13,116.17.

The Canadian dollar traded for 80.27 cents US compared with 80.22 cents US on Wednesday.

The May crude oil contract was down US$4.57 or 8.2 per cent to US$60.06 per barrel and the April natural gas contract was down 4.7 cents at US$2.48 per mmBTU.

The April gold contract was up US$5.40 at US$1,732.50 an ounce and the May copper contract was down 1.1 cents at nearly US$4.11 a pound.

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

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

The Canadian Press