(Bloomberg) — Canadian stocks tumbled at the open, then pared those losses, as traders caught up after the Toronto Stock Exchange and other venues were closed for a public holiday during Monday’s global selloff.
At the open in Toronto, the S&P/TSX Composite Index dropped as much as 2.6 per cent, extending losses for a third trading day. The index pared losses to 1.4 per cent as of 11:16 a.m. in Toronto. Four stocks were falling for every one that gained. The Canadian equities benchmark is on pace for its worst three-day stretch since October 2022.
Many of the country’s largest stocks including Shopify Inc., Royal Bank of Canada, Brookfield Corp. and Enbridge Inc. dropped, following steep losses for their U.S.-listed shares on Monday. The declines paralleled a sharp spike in volatility and a broader global selloff.
“When markets…
