TSX Snaps 4-day Winning Streak, Ends Sharply Lower On Weak Global Cues

(RTTNews) - The Canadian market ended sharply lower on Thursday, led largely by losses in technology, healthcare and industrials sectors.

The market digested the monetary policy announcements from the Bank of England, the European Central Bank, the latest batch of economic data from the U.S., and looked ahead to the closely watched monthly U.S. non-farm payroll data, due on Friday.

The benchmark S&P/TSX Composite Index ended with a loss of 268.35 points or 1.26% at 21,094.01, slightly off the day's low of 21,082.71.

The index had closed higher on the previous four sessions, notching up nearly 4% in the process.

A sell-off in U.S. technology space following weak earnings update and revenue guidance from Facebook parent Meta triggered heavy selling in Canadian technology sector. The Capped Information Technology Index drifted down 4.69%.

Telus International (TIXT.TO) plunged more than 9%. Shopify Inc (SHOP.TO) ended nearly 8.5% down, while Nuvei Corp (NVEI.TO), BlackBerry (BB.TO), Hut 8 Mining (HUT.TO), Enghouse Systems (ENGH.TO) and Constellation Software (CSU.TO) shed 5 to 6%.

Among healthcare shares, Aurora Cannabis (ACB.TO), Cronos Group (CRON.TO), Canopy Growth Corp (WEED.TO) and Tilray Inc (TLRY.TO) declined 5 to 7%.

In the industrials section, Ballard Power Systems (BLDP.TO) declined 5.5% and Cae Inc (CAE.TO) shed 4%, while Gfl International (GFL.TO), Boyd Group Services (BYD.TO), Bombardier Inc (BBD.B.TO), Ats Automation (ATA.TO) and Canadian Pacific Railway (CP.TO) lost 2.5 to 3.7%.