India, July 23 -- Canadian stocks slumped on Thursday, partially offsetting the gains from two consecutive sessions as U.S. interest-rate hike concerns due to skyrocketing crude oil prices and doubts over the return on investments in Artificial Intelligence weighed on the gold-linked materials sector and the technology sector, respectively.
After opening lower than yesterday's close, today the benchmark S&P/TSX Composite Index traded firmly negative throughout the session before settling at 35,192.66, down by 292.45 points (or 0.82%).
Three of the 11 sectors posted gains today, with the energy sector leading the pack.
Today, the Canadian IT sector mirrored the decline in the U.S. technology sector.
In the U.S., Alphabet and Tesla releas...