S&P/TSX composite down more than 200 points, U.S. stock markets also fall

Canada’s main stock index was down more than 200 points in late-morning trading in a broad-based decline, while U.S. stock markets also tumbled lower.

The S&P/TSX composite index was down 226.23 points at 20,858.86.

In New York, the Dow Jones industrial average was down 394.06 points at 38,260.36. The S&P 500 index was down 29.61 points at 4,929.00, while the Nasdaq composite was down 103.37 points at 15,525.58.

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The Canadian dollar traded for 73.86 cents US compared with 74.33 cents US on Friday.

The March crude contract was down 39 cents at US$71.89 per barrel and the March natural gas contract was down two cents at US$2.06 per mmBTU.

The April gold contract was down US$18.00 at US$2,035.70 an ounce and the March copper contract was down five cents at US$3.77 a pound.