TORONTO – Canada’s main stock index was down more than 500 points in late-morning trading, led lower by losses in the energy and base metal sectors, while U.S. stock markets also plunged in a broad-based sell-off.
The S&P/TSX composite index was down 561.36 points at 19,713.46.
In New York, the Dow Jones industrial average was down 758.04 at 30,634.75. The S&P 500 index was down 127.14 points at 3,773.72, while the Nasdaq composite was down 450.45 points at 10,889.57.
The Canadian dollar traded for 77.71 cents US compared with 78.27 cents US on Friday.
The July crude contract was down US$2.53 at US$118.14 per barrel and the July natural gas contract was down 39 cents at US$8.46 per mmBTU.
The August gold contract was down US$48.20 at US$1,827.30 an ounce and the July copper contract was down 12 cents at US$4.17 a pound.