Canada Stocks Fall on Speculation of a Possible Trump Victory
- All industry groups decline as December rate hike looks likely
- Energy shares hit hard with oil dropping to a 1-month low
TSX Movers: Cameco, Aecon Group, Detour Gold
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Canadian stocks tumbled for a second day as investors retreated from equities amid concerns about the upcoming U.S. presidential election and the increased probability of an interest rate hike before the end of the year.
The S&P/TSX Composite Index fell 1.2 percent to 14,594.72 at 4 p.m. in Toronto. All 11 industry groups in the index retreated. Health care shares lost 6.2 percent as Valeant Pharmaceuticals International Inc. was sued over its failed marketing of a female libido pill. Energy stocks also weighed down the gauge as oil dropped to a one-month low after data showed U.S. stockpiles grew. And raw-materials producers snapped a four-day rally as miners dropped 2.3 percent