(RTTNews) - The Canadian market ended at a near 6-week low on Tuesday, weighed down by losses in materials and financials stocks.
The mood remained cautious ahead of the Federal Reserve's monetary policy announcement, and some crucial economic data from the U.S., including reports on consumer price inflation, producer prices and consumer sentiment.
The benchmark S&P/TSX Composite Index ended down by 182.42 points or 0.83% at 21,887.34, about 45 points off the day's low of 21,842.90.
Materials shares Algoma Steel Group (ASTL.TO), Stelco Holdings (STLC.TO), Nutrien (NTR.TO), Ssr Mining (SSRM.TO, Lundin Mining (LUN.TO), Interfor Corp (IFP.TO), B2Gold Corp (BTO.TO), Teck Resources (TECK.B.TO), Ero Copper (ERO.TO) and Osisko Gold Royalties (OR.TO) lost 2 to 4%.
Among financials shares, Power Corporation of Canada (POW.TO) lost about 2.8%. Onex Corp (ONEX.TO), Manulife Financial (MFC.TO), Canadian Imperial Bank of Commerce (CM.TO), Sun Life Financial (SLF.TO), Bank of Montreal (BMO.TO), National Bank of Canada (NA.TO) and Laurentian Bank (LB.TO) ended down 1 to 2%.
Healthcare stocks Bausch Health Companies (BHC.TO) and Tilray Inc (TLRY.TO) ended lower by 3.3% and 2%, respectively.
On the economic front, data from Statistics Canada showed that building permits in Canada increased to 20.5% (month-on-month) in April from -12.3% in March.
