TSX Falls 96 Points on Global Growth Fears
The TSX is down 96 points this morning,pulled down by global growth slowdown fears. All sectors are in the red, with miners (-1.03%), the biggest decliner. Copper is in the red, shedding 0.14%. This comes on the heels of news that President Trump is unlikely to meet Chinese President Xi Jinping before higher tariffs kick in on $200 billion of China's goods on March 2. U.S. Trade Representative Lighthizer and Treasury Secretary Mnuchin will be in China next week to continue talks.
The financials sector is the second biggest decliner, down 0.78%.
Statistics Canada data on Friday that the number of people employed grew by 67,000 in January, mostly among youth aged 15 to 24 and in the services-producing industries. Analysts expected a 5,000 increase. The unemployment rate increased 0.2 percentage points to 5.8% as more people looked for work.
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