Markets

TSX to Continue Losing Streak on China Fears, Oil Drop

Canada's benchmark index looks set to continue its multi-day losing streak amid dropping oil prices and the devaluation of the Chinese currency, which raised concerns over the health of the global economy.

Stock futures for the March quarter on the S&P TSX index slipped 0.08% recently.

Chinese stock markets were halted once again as the devaluation of the yuan caused investors to panic, speculating that China's economy is weaker than expected. As a result, oil prices were lower. At last check, Brent was down 3% at US$33.19/barrel, while the WTI dropped 3.4% to US$32.82/barrel.

The TSX shed 193 points at closing on Wednesday, with energy stocks leading the decline.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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