TORONDO: Canada’s main stock index fell for the first time in five sessions on Thursday, as technology stocks slid due to weak sentiment stemming from Facebook-owner Meta Platforms’ downbeat forecast.
At 9:50 a.m. ET (1450 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 231.43 points, or 1.08%, at 21,130.93. Globally, stock markets turned red again after a disappointing status update from Meta, previously known as Facebook.
Toronto-listed technology stocks slumped 3.8%, including a 5.4% decline by Shopify Inc - the stock with the third-largest market capitalization on the Toronto market.
The benchmark equity index started off this month on the positive note as trader grew less fearful that central banks would hike interest rates aggressively. However, dour forecast by Facebook-owner Meta Platforms sparked another tech rout.
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