Equities in Canada’s largest centre suffered yet another day of losses Thursday, the day after central bankers stateside raised interest rates and the day before jobs numbers were to be released in both the U.S. and Canada.

The TSX dropped 116.49 points to finish Thursday at 20,238.19.

The Canadian dollar jumped 0.52 cents to 73.87 cents U.S.

Health-care stocks were ravaged the most, with Bausch Health tumbling $2.04, or 20.3%, to eight dollars, while Sienna Senior Living lost 17 cents, or 1.6%, to $10.75.

In consumer discretionary stocks, Gildan Activewear shares were roughed up $3.34, or 7.8%, to $39.53, while Magna International doffed $2.50, or 2%, to $33.45.

Communications also had a tough time of it, as Quebecor lost 69 cents, or 2%, to $33.45, while TELUS Corp. forfeited 46 cents, or 1.6%, to $28.20.

Tech stocks tried to take some of the edge off, with Shopify flying $14.60, or 23.2%, to $77.65, while Lightspeed Commerce dropped 45 cents, or 2.6%, to $17.90.

In gold stocks, Wesdome Gold inched up 45 cents, or 5.1%, to $9.30, while Iamgold gained 13 cents, or 3.1%, to $4.36.

On the economic beat, Statistics Canada noted in March, Canada's merchandise imports decreased 2.9%, while exports were down 0.7%. As a result, Canada's merchandise trade balance with the world moved from a revised $487 million deficit in February to a $972-million surplus in March.

What’s more, the IVEY PMI dwindled to 56.8 in April from March's 58.2, and much lower than the 69.9 figure in April 2022.

ON BAYSTREET

The TSX Venture Exchange edged up 1.19 points to wind up Thursday at 607.30.

All but two of the 12 TSX subgroups were negative on the session, with health-care withering 3.2%, while consumer discretionary stocks were down 2.5%, and communications surrendered 1.6%.

The two gainers proved to be information technology, taking on 3.9%, gold, brighter by 2.2%.

ON WALLSTREET

Stocks declined Thursday, as contagion fears in the regional bank space were reignited. Investors also digested the Federal Reserve’s 25-basis-point rate hike and commentary following its Wednesday meeting.
T
he Dow Jones Industrials parted with 286.30 points to end Thursday at 33,127.94.

The S&P 500 lost 29.38 points to 4,061.37.

The NASDAQ Composite swooned 58.93 points to 11,966.40.

The Dow turned negative for the year on Thursday, pulling back 0.06% year to date. Declines in Boeing, Disney, Goldman Sachs and American Express shares pulled back the Dow.

Shares of PacWest tanked by more than 50%. Regional bank shares sold off hard, as Western Alliance tumbled 38% and saw trading halted multiple times due to volatility. Meanwhile, Zions Bancorporation lost 12%.

April’s nonfarm payrolls report is due Friday at 8:30 a.m. ET, as well as numbers on the unemployment rate.

As the Fed pushed through its 10th rate hike in this cycle and the central bank seemed to soften its language on future increases, Chair Jerome Powell said that it may be too soon to cut.

Prices for the 10-year Treasury climbed, lowering yields to 3.36% from Tuesday’s 3.42%. Treasury prices and yields move in opposite directions.

Oil prices dropped 16 cents to $68.44 U.S. a barrel.

Gold prices recovered $20.10 to $2,057.10 U.S. an ounce.