U.S. equities lagged global peers as selling pressure continued to hamper tech stocks. Oil prices retreated amid signs of weaker demand. Defensive assets outperformed as global government bond yields declined and gold prices climbed.
The S&P/TSX Composite Index edged higher led by materials, industrials, and staples. Technology and energy detracted. Canadian housing starts surged to the highest level since 2007 as the residential real estate market showed further signs of strength buoyed by low rates.
The S&P 500 Index (C$) declined as all sectors except for materials weakened. Energy, technology, and communications experienced the largest losses.
The MSCI EAFE Index (C$) strengthened led by materials, health care, and industrials. Energy was a notable detractor. The British pound fell sharply following reports that trade negotiations between the UK and EU have stalled.