Baystreet.ca – Canada’s main stock index tumbled to end the week with materials shares leading the sectoral losses, after stronger-than-expected jobs data in the United States pushed investors to slash bets on a September rate cut by the U.S. Federal Reserve.The S&P/TSX Composite Index fell 222.1 points, or 1%, to close Friday at 22,007.
On the week, the index collapsed 262 points, or 1.18%. The folded 0.47 cents to 72.69 cents U.S. proved the biggest weight on the market Friday, with Eldorado Gold (TSX:) shedding $1.57, or 7%, to $20.79, while NovaGold (TSX:) dipped 40 cents, or 7.2%, to $5.13. Materials was also a downer, with Pan American (TSX:) descending $2.10, or 7.1%, to $27.43, while First Majestic Silver (TSX:) handed over 64 cents, or 6.8%, to $8.74.
In real-estate, units of RioCan REIT dipped 56 cents, or 3.2%, to $17.06, while Boardwalk REIT (TSX:) fell $2.12, or 2.9%, to $70.04. Consumer staples did their best to…
