TSX posts lowest weekly close in 20 months

Sunday, 16 October 2022

TORONTO, Oct 15 (Reuters): Canada's main stock index fell on Friday as lower commodity prices pressured resource shares and investors weighed signs that Bank of Canada interest rate hikes are taking a toll on the domestic housing market.
The Toronto Stock Exchange's S&P/TSX composite index ended down 287.28 points, or 1.5 per cent, at 18,326.25.
That was the index's lowest closing level in weekly charts since February 2021. It was down 1.4 per cent for the week.
"We are in a slowing growth environment, but not in a recession, as potentially the narrative suggests," said Angelo Kourkafas, investment strategist at Edward Jones Investments.