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

COVID-19: Town of Oliver gives residents tax breaks, 50 per cent off first quarter utility fees

Mayor encourages residents to invest money back into the community if possible

Cougar caught on camera in Lake Country

A Lake Country resident caught a cougar prowling near their home

Dry March causes modest increases to Okanagan snowpack

The Okanagan region increased from 115 per cent of normal snowpack to 116 per cent

Summerland winery sold for $5.2 million

Property overlooking Okanagan Lake was on the market 160 days

City of Penticton launches emergency survey on financial impacts of COVID-19

Survey aims to give the City an idea of how to move ahead with relief and recovery measures

UPDATE: Canadians awake to extra COVID-19 emergency benefit money, feds clarify changes

The CRA and federal officials are working to clarify the confusion around payments

Smiles, honks and waves as teachers stage parade for their students

Classrooms are closed, but kids and teachers manage to connect

B.C. sorting medical equipment sales, donation offers for COVID-19

Supply hub has call out for masks, gowns, coronavirus swabs

B.C. records five more deaths due to COVID-19, 45 new cases

A total of 838 people have recovered from the virus

COVID-19: B.C. students describe life during pandemic

Most teens wonder what the future will be like after COVID-19

COLUMN: Local journalism more important than ever before

Response to recent farm worker situation was concerning

Easter Bunny added to B.C.’s list of essential workers

Premier John Horgan authorizes bunny to spread “eggs-ellent cheer” throughout province

Travellers returning to B.C. must have self-isolation plan or face quarantine: Horgan

Premier John Horgan says forms must be filled out by travellers

Most Read