TSX At 3-Month Low

Canada's resource-heavy index fell to a near three-month low on Friday as a decline in oil prices weighed on energy stocks amid concerns that interest rates could stay higher for longer.

The TSX lost 140.30 points to reach noon hour EDT Friday at 19,440.60.

TSX is on course to post its steepest weekly drop of 2.5% since March.

The Canadian dollar subtracted 0.35 cents to 75.72 cents U.S.

Canopy Growth fell seven cents, or 9.1%, to 70 cents after the pot producer posted a wider quarterly loss over previous year and raised doubts about its ability to continue as a going concern.

All 12 TSX subgroups were negative, with health-care hesitating 1.4%, real-estate backpedaling 0.9%, and financials sinking 0.8%.

ON BAYSTREET

The TSX Venture Exchange stayed in the red 4.72 points to 596.15.

ON WALLSTREET

Stocks fell Friday, with Wall Street on track to post a losing week as a rally that carried the broader market in recent months appeared to run out of steam.

The Dow Jones Industrials decreased 153.66 points to pause for lunch at 33,793.05.

The S&P 500 sank 24.72 points to 4,357.17.

Read:

• Supply Shortage Could Drive Up Uranium Prices

• Novel Mechanisms Leading the Charge in Fight Against Cancer, Opening Door to New Drugs & Therapies

• Significant Oncology Results Set to be Delivered as Oral Presentations at ASCO 2023

• Promising New Cancer Treatment Data to Be Presented at 2023 ASCO Annual Meeting

• Global Lithium Supply Under Pressure as South American Nations Discuss "Lithium OPEC"

The NASDAQ index came off its lows of the morning, but still trailed breakeven by 120.23 points to 13,510.38.

All three major averages are set to break multiweek win streaks. The Dow and S&P 500 have lost more than 1% each since the start of the week. The NASDAQ is also down 1%, on pace to snap an eight-week win streak and post its worst weekly stretch since April.

The pullback was broad-based with more than 450 S&P 500 stocks trading in negative territory. Information technology was the biggest laggard, down more than 1%. Notably, shares of Nvidia, a major AI beneficiary, were down 2%.

Meanwhile, Goldman Sachs declined after CNBC reported the investment bank likely faces a large writedown for its 2021 acquisition of fintech firm GreenSky. The stock was down about 1%, weighing on the Dow.

In contrast, CarMax shares jumped more than 9% after the used car retailer exceeded first-quarter revenue expectations.

Prices for the 10-year Treasury jumped, lowering yields to 3.75% from Thursday’s 3.80%. Treasury prices and yields move in opposite directions.

Oil prices fell 66 cents to $68.85 U.S. a barrel.

Gold prices took on $7.90 to $1,931.60 U.S. an ounce.