A tech sector selloff and weaker commodity prices continued to pressure the Canadian stock market for a second consecutive session as investors awaited NVIDIA’s latest quarterly earnings report and more economic data from the United States. The S&P/TSX Composite Index dived by 133 points, or 0.6%, on Wednesday to settle at 23,127.
Even though better-than-expected bank earnings led to a recovery in financial stocks, heavy losses in all other key market sectors, primarily mining, technology, and consumer cyclicals, weighed on the TSX index.
Top TSX Composite movers and active stocks
Shares of Kinaxis (TSX:KXS) tanked by 14.5% to $133.95 per share, making it the worst-performing TSX stock for the day. This selloff in KXS stock came after the Ottawa-headquartered software firm told investors that its chief executive officer, John Sicard, will retire at the end of 2024 after nearly three decades with the company.
In addition, its…
