Canadian Stocks Decline
Canada's stocks benchmark dropped on Tuesday, underperforming its US counterpart. The decline was due to inflation accelerating more than expected and falling gold prices affecting the mining sector.
The S&P/TSX Composite Index fell as much as 1.8% as of 11:55 a.m. in Toronto, heading for its worst day since April 10.
In contrast, the US benchmark, the S&P 500, gained for a third-straight session.
Canada's stocks benchmark tumbled Tuesday, under-performing its U.S. counterpart as inflation in the country quickened more than expected while falling gold prices weighed on the mining sector.
Authors: Geoffrey Morgan and Monique Mulima (Bloomberg)
Summary: Canada's stocks drop due to inflation and falling gold prices.
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