Canada, U.S. markets move in opposite directions amid sell-off in precious metals

Market Overview - The S&P/TSX composite index decreased by 177.16 points, closing at 32,896.55, while the Dow Jones industrial average increased by 32.26 points to 49,533.19 [1][2] - The U.S. stock market experienced volatility, particularly in the tech sector, with notable declines in major tech stocks, including a 1.1% drop for Alphabet [2][3] Inflation and Economic Indicators - Canadian inflation rate decreased to 2.3% last month, slightly below economists' expectations, attributed to lower gas prices [1] - The Canadian dollar traded at 73.23 cents US, down from 73.45 cents US [5] Artificial Intelligence Impact - The narrative surrounding artificial intelligence (AI) is shifting, with increasing selectivity among companies viewed as potential winners or losers in the AI landscape [3][4] - Companies across various sectors, including software and legal services, are facing investor skepticism as concerns grow about AI-powered competitors [5] Commodity Prices - The April gold contract fell by US$140.40, settling at US$4,905.90 per ounce, while the April crude oil contract decreased by US$0.49 to US$62.26 per barrel [1][6]