TORONTO –
North American stock markets moved lower as the technology sector was hurt by comments from the dovish Federal Reserve’s vice chair nominee that interest rates have to increase soon to fight inflation.
The S&P/TSX composite index closed down 102.04 points to 21,292.96.
In New York, the Dow Jones industrial average was down 176.70 points at 36,113.62. The S&P 500 index was down 67.32 points at 4,659.03, while the Nasdaq composite was down 381.58 points at 14,806.81.
The Canadian dollar traded for 80.10 cents US compared with 79.94 cents US on Wednesday.
The February crude oil contract was down 52 cents at US$82.12 per barrel and the February natural gas contract was down 58.7 cents at US$4.27 per mmBTU.
The February gold contract was down US$5.90 at US$1,821.40 an ounce and the March copper contract was down 3.1 cents at nearly US$4.55 a pound.
This report by The Canadian Press was first published Jan. 13, 2022.
