North American stock markets start trading week down as oil plunges

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Oil

TORONTO — Canada’s main stock index fell at the start of the trading week, hurt by losses in the key financial and energy sectors as the price of oil dropped.

The S&P/TSX composite index was down 191.31 points at 14,168.57.

In New York, the Dow Jones industrial average was down 417.20 points at 23,825.29. The S&P 500 index was down 34.84 points at 2,839.72, while the Nasdaq composite was down 51.49 points at 8,598.65.

The Canadian dollar traded for 70.99 cents US compared with an average of 71.24 cents US on Friday.

The June crude contract was down US$3.05 at US$21.98 per barrel and the May natural gas contract was up nearly a penny at almost US$1.76 mmBTU.

The June gold contract was down US$1.00 at US$1,697.80 an ounce and the May copper contract was down nearly three cents at almost $2.32 per pound a pound.