MID-DAY: Energy slump puts TSX in the red; Pot volatility continues as stocks bounce back from drop
The Energy sector is putting the pressure on the TSX. The slump comes as oil prices continue to slide, pressured by an increase in stock in the US over concerns about a drop of exports from Iran next month. The Bay Street index is down 51 points to 15,478 and US oil is down to 69.50 a barrel.
The energy-tied Loonie is down to 76.71 cents US.
The volatility of pot stocks continues as many Canadian Cannabis companies bounce back from a slump yesterday. Aurora is also preparing to join the New York Stock Exchange next week. Aphria has also put in a request to be added to the exchange.
Across the border, the Dow is feeling fallout from nervous investors after the US Federal Reserve confirmed a plan to continue reigning in the economy with more interest rate increases. The Wall Street index is down 60 points to 25,645.