The TSX has dropped today on speculation that oil prices could fall as low as $60 a barrel unless OPEC votes to cut production. Energy and resource sector stocks have been moving lower ahead of this Thursday’s meeting of the OPEC nations; the cartel, especially Saudi Arabia, has resisted calls for lower output although it’s suggested that Iran may now join calls for a cut.
The S&P TSX Composite Index closed down 95.73 (0.63 per cent)
The NYSE closed slightly up.
Gold and oil are both trending lower.
The loonie is down ahead of Friday’s latest GDP data.