A street sign along Bay Street in Toronto's financial district is shown on Tuesday, January 12, 2021. Canada's main stock index lost more than one per cent Wednesday amid broad-based losses led by industrials, utilities and base metals, while U.S. markets also fell.In New York, the Dow Jones industrial average was down 332.57 points at 33,665.08.The S&P 500 index was down 58.60 points at 4,314.60, while the Nasdaq composite was down 219.44 points at 13,314.30.
Meanwhile, several U.S. airlines saw their stocks drop, including United Airlines, which gave a dim outlook for the fourth quarter amid higher jet fuel prices and suspended flights to Israel.However, the TSX's energy index was more or less flat Wednesday despite the price of oil rising above US$87, or around two per cent.
Many investors are making moves toward bonds amid the volatility and rising yields, said Currie, and dividend stocks are being hit particularly hard by the rotation.The Canadian dollar traded for 73.07 cents US compared with 73.28 cents US on Tuesday. Canada's inflation rate edged down to 3.8 per cent last month as price pressures eased across the economy, setting the stage for the Bank of Canada to hold its key interest rate steady next week, economists say.As artificial intelligence continues to evolve, its uses and applications grow even wider. Many people are already using tools like OpenAI’s ChatGPT, Google's Bard or Bing Chat to help them write emails, research new subjects and brainstorm business names.
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