S&P/TSX composite down, U.S. markets also lower as oil tops US$100 per barrel
Canada’s main stock index, the S&P/TSX composite, experienced a sharp decline of nearly 300 points in early trading as U.S. stock markets also dropped in response to oil prices surging above US$100 per barrel. The October crude oil contract rose US$3.98 to reach US$100.03 per barrel. By late-morning trading, the S&P/TSX composite index stood at 35,616.77 points, while the Dow Jones industrial average in New York fell 255.35 points to 52,125.31.
The S&P 500 index in the U.S. decreased by 36.10 points to 7,600.26, and the Nasdaq composite index saw a drop of 121.91 points to 26,131.43. The Canadian dollar was trading at 72.38 cents US, just a cent lower than its value on Wednesday. Meanwhile, the December gold contract declined by US$60.20 to US$4,400.50 an ounce.
Written by urgent.news from Winnipeg Free Press's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
