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

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

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

District of Sparwood gateway banner. (Scott Tibballs / The Free Press)
Sparwood starts to envision new multi-purpose facility for district

The district is exploring options for a new facility in the district following community consultation

A nurse performs a test on a patient at a drive-in COVID-19 clinic in Montreal, on Wednesday, October 21, 2020. THE CANADIAN PRESS/Paul Chiasson
Interior Health reports 16 new COVID-19 cases

423 cases remain active in the region

(File Photo)
WATCH: Cranbrook RCMP looking for driver after near miss between SUV, school bus

(Video courtesy Cranbrook RCMP) Cranbrook RCMP are looking for the driver of… Continue reading

Leith Olafson being congratulated by Jerry Bancks. Photo submitted
Selkirk Sports School wraps up season

A very different year due to COVID-19

A man wearing a mask against coronavirus walks past an NHS advertisement about COVID-19 in London, Tuesday, Feb. 2, 2021. (AP Photo/Alastair Grant)
92 new COVID-19 cases, no new deaths: Interior Health

The region is reporting 92 cases after the weekend

The area on Cordova Bay Road where ancestral human remains were discovered Feb. 22. (Submitted photo)
Human remains discovery a reminder of B.C. Indigenous culture dug up and displaced

‘These are the people who inspired and birthed the generations that we now have here’

Older rental apartments are prime candidates for renovations, and could result in lost affordable housing stock. (Zoë Ducklow photo)
B.C.’s renoviction overhaul a good start, but won’t preserve affordable stock, lawyer says

And still no protection for people who can’t pay rent due to COVID-19

Cannabis bought in British Columbia (Ashley Wadhwani/Black Press Media)
Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

(Photo by Marissa Baecker/Shoot the Breeze)
B.C. WHL teams to hit the ice with Kelowna, Kamloops hub cities

Kelowna, Kamloops centres chosen to host B.C. WHL teams for 24-game regular season

The machines are akin to ATMs and allow drug users at risk of overdose to get hydromorphone pills dispensed to them after their palm has been scanned to identify its unique vein pattern. (CANADIAN PRESS)
Feds dole out $3.5M for ‘vending machines’ to dispense safer opioids in B.C.

The machines are located in four cities across Canada, including Vancouver and Victoria

Kelowna’s lakefront visitor centre is one of 130 around the province. Tourism businesses have been hardest hit by COVID-19 restrictions on travel. (Destination B.C.)
Tourism, small business getting COVID-19 help, B.C. minister says

$300M grant program has delivered $50 million so far

(Black Press file photo)
Agassiz boy, 11, dies from ‘extensive injuries’: Homicide team

Agassiz RCMP were called out Friday to assist with a child in medical distress

Most Read