North American stock markets plunge again, loonie edges up against U.S. dollar

TORONTO – Canada’s main stock index plunged more than 300 points in late-morning trading, adding to its losses a day ago, while U.S. stock markets also sank again.

The S&P/TSX composite index fell 345.05 points to 16,103.84.

In New York, the Dow Jones industrial average was down 530.25 points at 27,762.48. The S&P 500 index was down 86.38 points at 3,368.68, while the Nasdaq composite was down 426.87 points at 11,031.23.

The Canadian dollar traded for 76.23 cents US compared with 76.20 cents US on Thursday.

The October crude contract was down US$ 1.43 at US$ 39.94 per barrel and the October natural gas contract was down four cents at US$ 2.44 per mmBTU.

The December gold contract was down US$ 13.70 at US$ 1,924.10 an ounce and the December copper contract was up four cents at US$ 3.02 a pound.

This report by The Canadian Press was first published Sept. 4, 2020.

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