TSX hits nearly two-month low as gold slides, bond yields climb
EWC•Canada’s S&P/TSX Composite fell 0.9% to 35,489.86, its lowest close since July 31, as gold prices dropped and bond yields climbed.
1. Index falls to low
The S&P/TSX Composite Index fell 311.03 points, or 0.9%, to 35,489.86 on Monday, its lowest closing level since July 31. The materials sector dropped 3.7% as gold fell 3.9% to a nearly eight-week low, while financials declined 0.7%.
2. Yields and oil rise
Canada’s 10-year yield touched 4.017%, its highest level since October 2023, while U.S. Treasury yields also rose. Energy stocks added 0.3% as U.S. crude futures settled up 0.2% at $92.60 a barrel.
3. GDP data due
Canadian GDP data for July was due Tuesday, with economists expecting a flat reading compared with June.
