Global equities declined as high-flying technology stocks and commodity prices lost ground. Long duration assets benefited from safe-haven flows.
Economic data for the month of August showed further signs that the pace of the employment recovery in North America was moderating.
The S&P/TSX Composite Index declined as all sectors weakened. Technology, energy, and health care lost the most ground.Canadian housing data for the month of August showed further signs of a robust recovery in both sales volumes and prices.
The S&P 500 Index (C$) declined as all sectors fell except for materials and utilities. Technology and energy lost the most ground. U.S. PMIs remained firmly in expansion territory in August. The U.S. trade deficit rose to its highest level in 12 years amid surging imports.
The MSCI EAFE Index (C$) declined as all sectors fell. Technology, financials, and energy lost the most ground.
Regionally, Japan outperformed amid reports of a record surge in industrial production led by its auto industry.