TORONTO — Canada’s main stock index posted a small gain Monday after starting the day lower, while U.S. markets were mixed.
Markets started the day lower in part because of weakness in semiconductor stocks, said Greg Taylor, chief investment officer at Purpose Investments. That’s after Nvidia, one of the biggest U.S. stocks and a major player in semiconductors, fell 5.5 per cent Friday after leading this year’s rally.
“I think that’s the nervousness we saw in the market when the semis opened down,” said Taylor.
But markets largely recovered as the day progressed, with both the S&P 500 and the Dow ending the day flat, while the Nasdaq hovered lower. Nvidia lost two per cent.
What was driving markets lower initially was “the overall risk that the tech move that’s kept the market up was going to come to an end,” said Taylor.
“That was the fear that everyone was focusing on … but people are not as panicked this…
