Markets volatile after U.S. bank failures


It was a volatile trading session for markets this morning amid fears of financial contagion in the U.S. after the second- and third-largest bank failures in that country’s history, while Canada’s main stock exchange moves lower on weakness in the energy and financial sectors.

The S&P/TSX composite index was down 148.96 points at 19,625.96.

In New York, the Dow Jones industrial average was up 61.37 points at 31,971.01. The S&P 500 index was down 8.91 points at 3,852.68, while the Nasdaq composite was down 8.10 points at 11,130.79.

The Canadian dollar traded for 72.76 cents US compared with 72.43 cents US on Friday.

The April crude contract was down US$.38 at US$73.30 per barrel and the April natural gas contract was up 13 cents at US$2.56 per mmBTU.

The April gold contract was up US$45.20 at US$1,912.4 an ounce and the May copper contract was down three cents at US$4.00 a pound.