In a significant market downturn, Canada’s main stock index experienced a decline of over 100 points during late-morning trading, primarily driven by setbacks in the technology sector. The S&P/TSX composite index decreased by 134.98 points, bringing the total to 32,955.98.
Meanwhile, U.S. stock markets faced a similar fate. On a day when markets reopened after the Martin Luther King Jr. Day holiday, the Dow Jones industrial average plummeted by 586.74 points, descending to 48,772.59. The S&P 500 index followed suit, dropping by 79.32 points to settle at 6,860.69. The Nasdaq composite bore the brunt of the losses, declining by 311.06 points, which brought it down to 23,204.33.
In currency exchanges, the Canadian dollar traded at 72.32 cents U.S., showing a slight increase from 72.10 cents U.S. the previous day.
In the commodities market, the March crude oil contract experienced a rise of 81 cents, reaching US$60.15 per barrel, while the February gold contract saw a substantial increase of US$144.70, soaring to US$4,740.10 an ounce.
This trading session underscores the volatility currently characterizing both Canadian and U.S. markets, with investor sentiment being impacted by various economic factors.
