TORONTO — North American stock markets were down in late-morning trading as they gave back some of their recent gains made in a rally this week, while the loonie traded lower in the wake of the Bank of Canada’s decision to cut its key rate by half a percentage point to 0.25 per cent.
The S&P/TSX composite index down 457.18 points at 12,913.99.
In New York, the Dow Jones industrial average was down 759.69 points at 21,792.48. The S&P 500 index was down 76.36 points at 2,553.71, while the Nasdaq composite was down 223.31 points at 7,574.23.
The Canadian dollar traded for 70.80 cents US compared with an average of 71.04 cents US on Thursday.
The May crude contract was down US$1.24 at US$21.36 per barrel and the May natural gas contract was down one cent at US$1.68 per mmBTU.
The June gold contract was down US$12.30 at US$1,648.00 an ounce and the May copper contract was down 0.55 of a cent at US$2.17 a pound.
This report by The Canadian Press was first published March 27, 2020.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)
The Canadian Press