Stock markets tumble on coronavirus fears, loonie falls against U.S. dollar

TORONTO – Canada’s main stock index posted a triple-digit decline in late-morning trading as stock markets around the world tumbled on worries that economic growth will be hurt by the coronavirus in China.

The S&P/TSX composite index was down 146.22 points at 17,419.12.

In New York, the Dow Jones industrial average was down 450.48 points at 28,539.25. The S&P 500 index was down 50.92 points at 3,244.55, while the Nasdaq composite was down 182.66 points at 9,132.25.

The Canadian dollar traded for 75.84 cents US compared with an average of 76.10 cents US on Friday.

The March crude contract was down US$1.46 at US$52.73 per barrel and the March natural gas contract was up 1.6 cents at US$1.89 per mmBTU.

The February gold contract was up US$9.80 at US$1,581.70 an ounce and the March copper contract was down 8.3 cents at US$2.60 a pound.

This report by The Canadian Press was first published Jan. 27, 2020.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)

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