The Canadian market is down sharply in negative territory Friday afternoon, hurt by losses in materials, healthcare and consumer discretionary sectors. Shares from utilities and financials sectors too are mostly down with notable losses.
Concerns about Middle East tensions, inflation and possibility of monetary tightening by central banks, and a lack of positive outcome from the U.S.-China summit weigh on sentiment.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.