TORONTO — Canada’s main stock index closed down Wednesday as the Bank of Canada cut its key interest rate by half a percentage point, while U.S. stock markets also fell.
The S&P/TSX composite index closed down 143.08 points at 24,573.62 in broad losses led by energy and tech.
In New York, the Dow Jones industrial average was down 409.94 points at 42,514.95. The S&P 500 index was down 53.78 points at 5,797.42, while the Nasdaq composite was down 296.47 points at 18,276.65.
The Canadian dollar traded for 72.24 cents US compared with 72.33 cents US on Tuesday.
The December crude oil contract closed down 97 cents at US$70.77 per barrel and the November natural gas contract was up three cents at US$2.34 per mmBTU.
The December gold contract was down US$30.40 at US$2,729.40 an ounce and the December copper contract was down four cents at US$4.34 a pound.
This report by The Canadian Press was first published Oct. 23, 2024.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
The Canadian Press