TORONTO — Stock markets lost ground in the U.S. and Canada on Thursday, weighed down by slumping AI stocks and gold prices, respectively.
Michael Greenberg, head of Americas portfolio management at Franklin Templeton Investment Solutions, said the moves in the market appeared to be more of a rotation than a broader growth scare.
The S&P/TSX composite index was down 76.05 points at 35,340.15. The resources-heavy basic materials sector led the overall index lower as the August gold contract was down US$59.70 at US$3,992.10 an ounce.
Canada’s main stock index has a higher concentration of materials compared to other indexes. As a result, Greenberg said the TSX benefited from
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