North American markets fall on Delta variant fears
TORONTO —
North American stock markets trended broadly lower Wednesday and oil prices declined for a fifth straight day amid investor fears about the unrelenting spread of the COVID-19 Delta variant.
“Equity markets have stumbled this week, with traders assessing the global economic landscape and the trajectory of the pandemic,” said Candice Bangsund, portfolio manager for Fiera Capital.
Bangsund added markets were also on the defensive given newly released minutes from the U.S. Federal Reserve gathering in July, which indicate the central bank could make a formal decision on scaling back its bond buying program by year-end. This expected tapering of pandemic emergency relief programs has some investors “rattled,” she said.
The S&P/TSX composite index saw positive performance in the financials sector Wednesday, but still closed the day down 61.48 points at 20,302.11.
In New York, the Dow Jones…
