Oil decline hits TSX, Wall Street despite global rally

Oil decline hits TSX, Wall Street despite global rally

Oil decline hits TSX, Wall Street despite global rally World stock markets showed greater optimism Wednesday as hopes of an increase in stimulus by China saw Asian markets gain. That sentiment spread to Europe where regional data also boosted the major indexes which closed higher.

Toronto and New York started well but were later weighed down by declining oil prices and even Apple’s announcement of new products and a freeze on Canadian interest rates failed to stop the markets ending lower.
 
The S&P/TSX Composite Index closed down 98.82 (0.72 per cent)
The Dow Jones closed down 239.1 (1.45 per cent)
Oil is trending lower (Brent $47.67, WTI $44.28 at 4.20pm)
Gold is trending lower (1106.80 at 4.20pm)
The loonie is valued at U$0.7548