Toronto stock market tumbles for third day in a row to start 2016
The Toronto Stock Exchange’s main S&P/TSX Composite index finished the third trading session of the year down 193.3 points or 1.5 per cent at 12,726.80 on Wednesday, extending losses taken during the first two days of 2016.
The decline in Canadian share prices was in tandem with other North American markets as investors continued to show signs of worry about the global economy, specifically a deepening slowdown in China.
In New York, the Dow Jones average of 30 blue chip stocks was down 250.4 points (1.46 per cent) while the the broader S&P 500 index dropped 26.23 points or 1.3 per cent.
On commodity markets, February crude oil contracts were down $1.42 at $34.55 per barrel (U.S.).
WATCH: Global markets crumbled on the first day of trading in 2016, triggered by China’s worst-ever start to a new year. Eric Sorensen reports.