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

RCMP are searching for Philip Toner, who is a 'person of interest' in the investigation of a suspicious death in Kootenay National Park last week. Photo courtesy BC RCMP.
Man sought in suspicious Kootenay death found in Lake Country

Philip Toner is a person of interest in the death of Brenda Ware

A health-care worker prepares a dose of the Pfizer-BioNTech COVID-19 vaccine at a COVID-19 vaccine clinic in Toronto on Thursday, January 7, 2021. THE CANADIAN PRESS/Nathan Denette
65 new cases of COVID-19 in Interior Health

Overall, B.C. is seeing a decrease in COVID-19 cases

Rain clouds were absent for most of April in the West Kootenay. Photo: Betsy Kline
April precipitation only one-third of normal in West Kootenay

Third month in a row with below average rain fall

Central Mountain Air will be flying seven days a week this summer. Photo: Betsy Kline
Central Mountain Air increases Castlegar flights

West Kootenay Regional Airport will see flights to Vancouver seven days a week this summer

The Trail RCMP is sharing a warning that originated with the Nova Scotia RCMP regarding an online sexual exploitation scam targeting youth. Photo: Mohammad Metri on Unsplash
Trail RCMP warn of digital sexploitation scheme targeting youth

Police want to get the message out to victims that you are not alone.

A bullet hole is seen in the windshield of an RCMP vehicle approximately 4 km from Vancouver International Airport after a one person was killed during a shooting outside the international departures terminal at the airport, in Richmond, B.C., Sunday, May 9, 2021. THE CANADIAN PRESS/Darryl Dyck
Homicide team IDs man in fatal YVR shooting as police grapple with spate of gang violence

Man, 20, charged in separate fatal shooting Burnaby over the weekend

Keith MacIntyre - BC Libertarian
Penticton’s Keith MacIntyre new leader of the B.C. Libertarian Party

The Penticton businessman was voted in by members of the party on May 8

Vernon North Okanagan RCMP reported to 287 mental health calls between Jan. 1, 2021, and May 1. (Black Press files)
‘It’s not the police’s responsibility to deal with mental health calls’: Vernon RCMP

RCMP remind public to take care of mental health and well-being, while better solutions are sought

Thompson Rivers University campus is in Kamloops, B.C. (KTW file photo)
Thompson Rivers the 1st B.C. university to supply free menstrual products

The university will offer the products this September

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

Fraser Health is using ‘targeted’ vaccination clinics in high-risk areas of the Lower Mainland. (Fraser Health photo)
B.C.’s COVID-19 decrease continues, 515 new cases Tuesday

426 seriously ill people in hospital, up from 415 Monday

The site of Sunfest, Laketown Ranch, will be open for camping this summer. (Citizen file)
Sunfest country music bash won’t be shining on B.C. in 2021

Annual Vancouver Island Festival cancelled due to COVID-19, along with Laketown Shakedown

Tla-o-qui-aht First Nation elected chief councillor Moses Martin, who was also Chantel Moore’s grandfather, speaks to media in Port Alberni on Aug. 16, 2020, during a visit from NDP leader Jagmeet Singh following the police shooting of Chantel Moore. (Elena Rardon photo)
Mother of 2 shot by police in critical condition, says B.C. First Nation chief

Community ‘devastated’ by third member of 1,150-person Vancouver Island nation shot in less than a year

B.C. Agriculture Minister Lana Popham promotes the government’s BuyBC food program in 2019. (B.C. government)
Money running out for fresh fruit, vegetables, milk in B.C. schools

‘Looking at ways to support this type of program,’ minister says

Most Read