Major stocks like Shopify Inc., Royal Bank of Canada, Brookfield Corp., and Enbridge Inc. saw declines, following steep losses for their US-listed shares on Monday. This mirrored a sharp increase in volatility and a broader global selloff.
Purpose Investments Chief Market Strategist Craig Basinger noted in a Monday client note that his firm had been buying in its multi-asset portfolios while the TSX was closed. He described Monday’s selloff as “mechanical,” leading to a “mispricing of assets” and creating a buying opportunity.
Tuesday’s drop was further intensified by falling gold prices, continuing Monday’s downward trend. Gold miners such as SSR Mining Inc. and Lundin Gold Inc. were among the worst performers on Tuesday.
Despite the recent declines, there may be a positive outlook for TSX-listed stocks. Bloomberg Intelligence equity strategist Gillian Wolff explained that…
