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

Campbell River Arts Council’s Banner Project coming to a home near you

‘Banners will be reflective of how a community can stay positive even in difficult times,’ – CRAC executive director

B.C. firefighters only responding to most life-threatening calls during COVID-19 pandemic

The directive comes after province spoke with paramedics, fire services, according to top doctor

‘An extra $220 every 90 days’: B.C. patients pay more dispensing fees due to prescription limits

Kelowna woman says it’s outrageous to charge for refills every 30 days

Federal NDP suggests universal benefit to streamline aid payments

Those who do not need money will repay at end of tax year

‘Better days will return’: Queen Elizabeth delivers message amid COVID-19 pandemic

The Queen said crisis reminds her of her first address during World War II in 1940

Campbell River community COVID-19 agencies, services and resources list

The list outlines status of social agencies in the community

Emergency aid portal opens Monday, cash could be in bank accounts by end of week: Trudeau

Emergency benefit will provide $2,000 a month for those who have lost their income due to COVID-19

Education, not enforcement: B.C. bylaw officers keeping a watch on physical distancing

A kind word, it turns out, has usually been all people need to hear

COVID-19: Hospitals remain safe for childbirth, say Vancouver Island care providers

North Island Hospital has been asked to share its perinatal COVID-19 response plan

Canadian cadets to mark 103rd anniversary of Vimy Ridge April 9 virtually

Idea of Captain Billie Sheridan in Williams Lake, B.C. who wondered what to do in times of COVID-19

B.C. VIEWS: Pandemic shows need for adequate care home staffing

Seniors in B.C. care homes face challenging times

QUIZ: How much do you know about hockey?

Take this test and find out how well you know Canada’s most popular winter sport

Most Read