Canada Stocks Erase 2023 Gain, Fall Further Behind US Peers
- Analysts’ bullish view at odds with S&P/TSX performance
- Dividend-paying stocks struggle as bond yields climb
Telus headquarters in Vancouver. A selloff in stocks with high dividend yields, such as telecoms and utilities, dragged the TSX benchmark into the red for the year
Photographer: Jimmy Jeong/BloombergThis article is for subscribers only.
Canadian stocks erased their gains for the year, defying strategists’ bullish outlook and causing the nation’s shares to fall further behind their US peers.
The S&P/TSX Composite Index slumped 1.9% on Monday to its weakest close since October, leaving it down about 1.1% this year.