TORONTO — Markets in Toronto and New York retreated on Friday as rising global oil prices and fears of higher inflation shook the global bond market.
“Rising bond yields from Japan to North America were one of the major headwinds for equity markets around the globe,” said Kathrin Forrest, equity investment director at Capital Group.
Some of the upward pressure also came from rising inflation worries as transportation bottlenecks continue to disrupt supply chains amid the ongoing war in Iran, she added.
Forrest said Canada’s main stock was primarily weighed down by the materials sector, coming from weaker precious metals.
The S&P/TSX composite index was down 434.92 points at
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