Coronavirus: Canadians stocks hit a 1-year low, down 9.9%

Click to play video: 'Coronavirus outbreak: Trudeau says Canada still in strong position as global markets tumble' Coronavirus outbreak: Trudeau says Canada still in strong position as global markets tumble
Speaking to reporters from Rideau Cottage in Ottawa, Canadian Prime Minister Justin Trudeau reacted to news of more tumult in global financial markets by reiterating his belief that relatively speaking, Canada was in a strong financial position to weather the impacts of the ongoing COVID-19 outbreak – Mar 16, 2020

The stock market collapse prompted by the coronavirus outbreak continued on North American markets on Monday, after a short-lived rally on Friday.

All major indexes in Canada and the U.S. were down by around 10 per cent or more on a day when the headlines included news that Canada would close its borders to all non-citizens with the exception of U.S. citizens.

In Toronto, the TSX/S&P closed down 1,355 points to 12,360, or a 9.9 per cent drop. It was a 52-week low for Canada’s main stock index.

In the U.S., the Dow Jones Industrial Average closed down 2,999 points, or 12.9 per cent, after briefly being down more than 3,000 points just before the markets closed. The S&P 500 was down 12 per cent.

The Canadian dollar traded for 71.61 cents US compared with an average of 71.94 cents US on Friday.

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The April crude contract was down US$3.03 at US$28.70 per barrel and the April natural gas contract was down 5.4 cents at US$1.815 per mmBTU.

The April gold contract was down US$30.20 at US$1,486.50 an ounce and the May copper contract was down 7.15 cents at US$2.39 a pound

With files from the Canadian Press



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