Canadian stocks turned bearish in the first trading session of 2024, as investors remained cautious before many important economic announcements, including the minutes from the U.S. Federal Reserve’s recent meeting, to guide their expectations for the central bank’s future monetary policy decisions. After ending 2023 with 8.1% gains, the S&P/TSX Composite Index slid by 86 points, or 0.4%, on Tuesday to settle at 20,872.
Although overnight gains in crude oil and natural gas prices helped energy stocks rise, these gains failed to take the main TSX benchmark higher as healthcare, technology, and real estate sectors fell sharply, with investors locking in profits in the market.
Top TSX Composite movers and active stocks
Tech stocks like Lightspeed Commerce, Nuvei, Shopify, and Kinaxis were the worst-performing TSX Composite components yesterday, as they plunged by at least 4.3% each.
On the flip side, First…
