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Coronavirus: Stock markets continue to sink amid fears of economic fallout

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TORONTO — North American stock markets continued to sink in early trading, the day after a trading session that saw stock markets plunge amid fears about the economic fallout from COVID-19.

The S&P/TSX composite index was down 340.00 points at 11,381.42, shortly after the open.

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In New York, the Dow Jones industrial average was down 653.23 points at 19,245.69. The S&P 500 index was down 67.63 points at 2,330.47, while the Nasdaq composite was down 108.12 points at 6,881.72.

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The Canadian dollar traded for 69.16 cents US compared with an average of 68.98 cents US on Wednesday.

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The May crude contract was up US$2.21 at US$23.04 per barrel and the April natural gas contract was up 2.5 cents at US$1.629 per mmBTU.

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The April gold contract was up US$1.00 at US$1,478.90 an ounce and the May copper contract was up 0.85 of a cent at US$2.1595 a pound.