The Toronto Stock Exchange Broadcast Centre is shown in Toronto on June 28, 2013. THE CANADIAN PRESS/Aaron Vincent Elkaim

Toronto’s S&P/TSX composite down more than 1,400 points, U.S. markets fall

The drop in Toronto and on U.S. markets was large enough to trip circuit breakers that forced a pause in trading

Canada’s main stock index plunged more than 1,000 points at the start of trading today amid fears about the economic consequences of COVID-19’s spread around the world.

The drop in Toronto and on U.S. markets was large enough to trip circuit breakers that forced a pause in trading.

The S&P/TSX composite index was down 1,472.75 points at 12,797.34 after trading resumed.

The decline on the Toronto market was across the board.

Shares of Royal Bank of Canada were down $7.86 at $80.01, while Enbridge was down $5.02 at $37.94. BCE was down $4.92 at $53.10.

A bear market is commonly defined as a loss of 20 per cent from a recent high. The TSX was nearly 29 per cent per cent off its record high of 17,970.51 set on Feb. 20.

In New York, the Dow Jones industrial average was down 1,977.12 points at 21,576.10. The S&P 500 index was down 201.56 points at 2,539.82, while the Nasdaq composite was down 550.04 points at 7,402.01.

The Canadian dollar traded for 72.48 cents US compared with an average of 72.75 cents US on Wednesday.

The April crude contract was down US$1.99 at US$30.99 per barrel and the April natural gas contract was down 7.1 cents at US$1.807 per mmBTU.

The April gold contract was down US$50.80 at US$1,591.50 an ounce and the May copper contract was down 5.60 cents at US$2.4460 a pound.

READ MORE: Think before you buy or sell stocks amid COVID-19 market turmoil, B.C. professor urges

The Canadian Press


Like us on Facebook and follow us on Twitter.

CoronaviruseconomyStocks

Comments are closed

Just Posted

Free beach camps for kids

The Lake Windermere Ambassadors are offering free summer camps for kids at James Chabot Beach.

Fisher announces decision to run for MNBC regional director’s role

Debra Fisher plans to run for Region 4 director in the Métis Nation of B.C. election this fall

Traditional Indigenous languages evaluated for regional signage project

Economic Development Officer works toward inclusive signage project for the Columbia Valley

Sonshine Children’s Centre slates early-July reopening

Sonshine Children’s Centre plans to re-open for families in need on July 6.

Ktunaxa language nears extinction

UBC grad Martina Escutin has been raising awareness about the critically endangered Ktunaxa language

QUIZ: A celebration of dogs

These are the dog days of summer. How much do you know about dogs?

Police ramp up efforts to get impaired drivers off B.C. roads this summer

July is dedicated to the Summer CounterAttack Impaired Driving Campaign

Migrant workers stage multi-city action for full status amid COVID-19 risks

‘COVID-19 has exacerbated an existing crisis’

Okanagan school drops ‘Rebels’ sports team name, citing links with U.S. Civil War

Name and formerly-used images “fly in the face” of the district’s human rights policy, says board chair

PHOTOS: B.C.’s top doc picks up personalized Fluevog shoes, tours mural exhibition

Murals of Gratitude exhibit includes at least one portrait of Henry alongside paintings of health-care workers

In troubled times: Independence Day in a land of confusion

Buffeted by invisible forces and just plain worn out, the United States of America celebrates its 244th birthday

Stop enforcing sex work laws during COVID-19, advocates say

There are provisions in Canada’s prostitution laws that make workers immune from prosecution, but not from arrest

Liberal party finished 2019 having spent $43 million, raised $42 million

All political parties had until midnight June 30 to submit their financial reports for last year

B.C. teacher loses licence after sexual relationships with two recently-graduated students

The teacher won’t be allowed to apply for a teaching certificate until 2035

Most Read