North American stock markets plunge in early trading, loonie sinks


TORONTO — Canada’s main stock index plunged more than 300 points in early trading, while U.S. stock markets also sank.

The S&P/TSX composite index was down 338.10 points at 15,860.87.

In New York, the Dow Jones industrial average was down 594.43 points at 27,062.99. The S&P 500 index was down 63.95 points at 3,255.52, while the Nasdaq composite was down 190.37 points at 10,602.91.

The Canadian dollar traded for 75.42 cents US compared with 75.84 cents US on Friday.

The November crude contract was down 95 cents at US$40.37 per barrel and the October natural gas contract was down nearly 13 cents at US$1.92 per mmBTU.

The December gold contract was down US$39.40 at US$1,922.70 an ounce and the December copper contract was down a little more than two cents at US$3.09 a pound.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)