Canada\u2019s main stock index sank sharply in late-morning trading, pressured by losses in technology, base metals and industrials. U.S. stock markets also moved lower, adding to the risk-off tone across North American equities.<\/p>\n\n\n\n
The S&P\/TSX composite index was down 533.64 points at 32,720.55. A \u201cpoint\u201d is the unit used to measure moves in a stock index, which tracks the combined performance of a group of listed companies.<\/p>\n\n\n\n
The decline was led by sectors tied to growth and commodities. Technology stocks weighed on the index, alongside base metal and industrial names. Those groups often react quickly when investors turn cautious about the economy or near-term corporate earnings.<\/p>\n\n\n\n
In New York, major indexes were lower at the same time.<\/p>\n\n\n\n
The Dow Jones industrial average was down 400.91 points at 49,720.49. The S&P 500 index was down 77.03 points at 6,864.44. The Nasdaq composite was down 370.39 points at 22,696.08.<\/p>\n\n\n\n
The Canadian dollar traded at 73.40 cents US, down from 73.67 cents US on Wednesday. Currency moves matter for Canadian investors because a weaker loonie can lift the value of U.S. holdings when translated back into Canadian dollars, but it can also raise costs for imports.<\/p>\n\n\n\n
Commodities were also weaker.<\/p>\n\n\n\n
The March crude oil contract was down US$1.15 at US$63.48 per barrel. The April gold contract was down US$19.10 at US$5,079.40 an ounce. Futures contracts are standardized agreements to buy or sell a commodity at a set price for delivery in a specific month.<\/p>\n\n\n\n
The broad selloff left Canadian and U.S. markets tracking in the same direction, with pressure concentrated in sectors that tend to be most sensitive when sentiment turns defensive.<\/p>","protected":false},"excerpt":{"rendered":"
Canada\u2019s main stock index sank sharply in late-morning trading, pressured by losses in technology, base metals and industrials. U.S. stock markets also moved lower, adding to the risk-off tone across North American equities. The S&P\/TSX composite index was down 533.64 points at 32,720.55. A \u201cpoint\u201d is the unit used to measure moves in a stock […]<\/p>\n","protected":false},"author":2,"featured_media":891,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[50],"tags":[],"class_list":{"0":"post-890","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"yoast_head":"\n