TORONTO — Canada’s main stock index more than wiped out its gains from the day before on Thursday, declining 1.7 per cent with most major sectors down, while U.S. markets also fell.
The S&P/TSX composite index closed down 387.60 points at 22,723.21.
In New York, the Dow Jones industrial average was down 494.82 points at 40,347.97. The S&P 500 index was down 75.62 points at 5,446.68, while the Nasdaq composite was down 405.26 points at 17,194.14.
A group of U.S. economic reports released Thursday showed weakness in manufacturing, the highest level of jobless benefits applications in a year, and improved worker productivity.
With the U.S. Federal Reserve still holding interest rates high, central banks are walking a thin line between defeating inflation and cutting the economy too deep, said Jennifer Tozser, senior wealth adviser and portfolio manager with Tozser Wealth Management at National Bank.
The U.S. 10-year bond…
