Canada's Key Index Takes a Dive
The TSE 300 spent the day trading with heavy losses and closed down 169.6 points to 7929.8. Ten of the 14 subindices closed with a loss lead by the tech-heavy Industrial Products sector. The Oil subindex was the best gainer, thanks in large part to the gains in U.S. oil stocks on Exxon's better-than-expected earnings (crude oil closed flat). The TSE 300's break below 8000/11 warns of a more serious correction. The next level to watch is 7855 (38.2% of the 4/4 to 4/19, 766 point surge). On the upside watch 8048 Monday's high (at open).
Stock markets in Europe were trading off in line with the U.S. equities market. London's Financial Times-Stock Exchange 100 index ended down 8.50 points, or 0.14%, to 5,871.30. In Germany, the DAX Index ended off 76.49 points, or 1.25%, at 6,051.48. In France, the CAC 40 ended down 52.49 points, or 0.96%, to 5,396.85.
Asia markets finished lower. Japan's Nikkei 225 index finished down 50.07 points, or 0.36%, to 13,715.60. Hong Kong's Hang Seng Index fell 135.63 points, or 1.02%, to 13,311.50.