A sharp intraday decline in metals and crude oil prices, coupled with hotter-than-expected U.S. wholesale inflation data, weighed on the Canadian equities market on Thursday as it posted its biggest single-day decline in over five weeks. The S&P/TSX Composite Index plunged by 247 points, or 1%, to settle at 25,411, its lowest closing level since November 27.
Despite a minor recovery in the healthcare sector, heavy losses in mining, energy, and technology stocks dragged the TSX, highlighting the market’s sensitivity to important economic data and commodity price swings.
Top TSX Composite movers and active stocks
After gold spot prices fell 1.4% in a day, mining stocks such as Equinox Gold, New Gold, NovaGold Resources, and First Majestic Silver dropped by at least 6.8% each during the session, making them the worst-performing TSX stocks.
Despite the market selloff, shares of Empire Company (TSX:EMP.A)…
