Canada’s main stock index, the S&P/TSX composite, dropped more than 250 points on Tuesday, driven by declines in the basic materials sector. The index closed at 36,170.45, down 275.81 points from the previous session. Meanwhile, U.S. markets also saw losses across the board.
In New York, the Dow Jones industrial average fell 157.86 points to 52,231.89. The S&P 500 index lost 29.01 points, ending at 7,520.93, while the Nasdaq composite declined 187.26 points to 25,065.88. The Canadian dollar weakened slightly, trading at 70.52 cents US, down from 70.81 cents US the day before.
Commodities also saw declines, with the December crude oil contract falling 81 cents US to US$86.04 per barrel. The December gold contract dropped US$84.30, settling at US$4,030.20 an ounce.