North American stock markets slumped again Monday morning, the last day of what’s been a turbulent month for shares as investors fret over a broad-based economic slowdown emanating from China and the timing of a U.S. interest rate hike.
The S&P/TSX composite index of Canadian shares dropped 151 points or 1.1 per cent at the opening bell. In New York, the Dow Jones industrial average declined 136.3 points (0.82 per cent), while the S&P 500 fell 14.5 (0.73 per cent) in early trade.
The loonie was down one-third of a U.S. cent, falling to 0.32 cent to 75.35 cents US.
MORE: Complete coverage of August’s market mayhem
On the commodity markets, the December gold contract fell 7.20 to US$1,126.80 an ounce, the October crude contract was down 59 cents at US$44.63 a barrel and the October contract for natural gas was down five cents at US$2.66.
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