S&P/TSX Composite Tumbles Amid Oil Price Surge

The S&P/TSX composite index declined by over 150 points in late-morning trading, despite gains in the energy sector as oil prices rose.

The November crude oil contract increased by US$3.62 to US$95.78 per barrel, while the Canadian dollar traded at 70.71 cents US compared to 70.94 cents US on Wednesday.

Meanwhile, major US stock indices also experienced losses, with the Dow Jones industrial average down 347.74 points and the S&P 500 index declining by 36.53 points.