The Canadian stock market continued to slide for a second consecutive session on Thursday as investors remained cautious amid mixed U.S. economic data and growing geopolitical tensions. The S&P/TSX Composite Index fell by 33 points, or 0.1%, to settle at 23,969.
Energy stocks benefited from a 3.8% surge in crude oil prices due to the ongoing Israel-Iran conflict, but other areas of the market didn’t fare as well. Other sectors like utilities, real estate, and technology saw big declines, offsetting gains made in the energy space. This mixed performance across sectors kept the TSX index in negative territory.
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NovaGold Resources (TSX:NG) tanked by nearly 13% to $4.93 per share, making it the worst-performing TSX stock for the day. This selloff in NG stock came a day after the precious metals miner announced its third-quarter (ended in August) financial results.
In the August quarter,…
