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North American stock markets plunge to start trading week, loonie sinks lower
North American stock markets plunge to start trading week, loonie sinks lower
TORONTO — Canada’s main stock index posted a triple-digit loss in early trading and the loonie dropped below 76 cents US, while U.S. stock markets also plunged to start the trading week.
The S&P/TSX composite index was down 221.37 points at 15,996.64.
In New York, the Dow Jones industrial average was down 421.82 points at 27,711.49. The S&P 500 index was down 66.06 points at 3,360.90, while the Nasdaq composite was down 345.54 points at 10,967.60.
The Canadian dollar traded for 75.89 cents US compared with 76.40 cents US on Friday.
The October crude contract was down US$2.73 at US$37.04 per barrel and the October natural gas contract was down nearly five cents at US$2.54 per mmBTU.
The December gold contract was down US$13.60 at US$1,920.70 an ounce and the December copper contract was down four cents at US$3.02 a pound.
This report by The Canadian Press was first published Sept. 8, 2020.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)
The Canadian Press
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