North American stock markets tumble, loonie falls against U.S. dollar

0

TORONTO — Canada’s main stock index fell in a broad-based decline in late morning trading, while U.S. stock markets also tumbled.

The S&P/TSX composite index was down 334.89 points at 14,053.39.

In New York, the Dow Jones industrial average was down 543.24 points at 23,107.20. The S&P 500 index was down 79.19 points at 2,743.97, while the Nasdaq composite was down 311.02 points at 8,249.71.

The Canadian dollar traded for 70.44 cents US, compared with an average of 70.99 cents US on Monday.

The May oil contract was back in positive territory at US$3.87 per barrel after going negative on Monday, while the more heavily traded June crude contract was down US$5.86 at US$14.57 per barrel. The May natural gas contract was down nearly two cents at US$1.91 mmBTU.

The June gold contract was down US$8.60 at US$1,702.60 an ounce and the May copper contract was down nearly nine cents at US$2.23 a pound.