AFTER THE BELL: Falling Turkish Lira continues to weigh North American markets
The plunging Turkish lira pulled North American markets into the red today.
The lira dropped seven percent on Monday, rattling both the TSX and the Dow as investors scrambled for safer currencies.
Oil prices also slipped today after data suggested a rise in US crude inventories, as well as OPEC’s forecast of lower demand for its crude next year.
Oil slid 30 cents to $67.33 US a barrel.
Gold stocks also declined, falling $18.30 to $1,193 an ounce.
Overall, just three of the TSX’s 11 sectors saw gains today, with financials, telecom, and real estate seeing gains.
By the end of the day, the Canada’s stock exchange dropped 76 points to 16,251.
On Wall Street, the Dow suffered triple digit losses after falling 123 points.
The Nasdaq also eventually slipped, ending up 19 points to the negative despite slight gains in the share price of technology giants Amazon and Apple.
The loonie had a slight gain on the greenback, up 10/100ths of a cent to $.07613 cents US.