S&P/TSX composite down more than 250 points as price of crude oil slides

TORONTO — Canada’s main stock index was down more than 250 points in late-morning trading, led lower by losses in the energy sector as the price of oil fell, while U.S. stock markets also retreated.

The S&P/TSX composite index was down 257.01 points at 18,577.15.

In New York, the Dow Jones industrial average was down 66.09 points at 30,901.73. The S&P 500 index was down 6.66 points at 3,824.73, while the Nasdaq composite was down 10.22 points at 11,312.02.

The Canadian dollar traded for 76.54 cents US compared with 76.70 cents US on Tuesday.

The August crude contract was down US$3.84 at US$95.66 per barrel and the August natural gas contract was down three cents at US$5.49 per mmBTU.

The August gold contract was down US$25.10 at US$1,738.80 an ounce and the September copper contract was down six cents at US$3.36 a pound.

This report by The Canadian Press was first published July 6, 2022.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)

The Canadian Press