Canadian stocks fell sharply on Wednesday after the much stronger-than-expected U.S. retail sales data made investors worried about the possibility that the Federal Reserve will not slash interest rates in the next meeting. The S&P/TSX Composite Index tanked by 253 points, or 1.2%, yesterday to settle at 20,695 — its lowest closing level of 2024.
While big losses in metals prices drove metal and mining stocks lower, heavy losses in other main market sectors like real estate, utilities, healthcare, and energy also accelerated the selloff in the TSX benchmark.
Top TSX Composite movers and active stocks
Shares of First Quantum Minerals (TSX:FM) tanked 6.7% to $12.66 per share, making it the worst-performing TSX stock for the day. These declines in FM stock came after a Reuters report said that the Vancouver-based metal miner had submitted a plan to Panama’s trade ministry to preserve its Cobre Panama copper mine after an…
