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Coronavirus: TSX sinks amid COVID-19 pandemic despite higher crude, gold prices

Click to play video: 'Coronavirus around the world: March 23, 2020' Coronavirus around the world: March 23, 2020
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Higher crude and gold prices couldn’t help Canada’s main stock index from sinking to start the trading week as heightened fears over the new coronavirus continued to grip investors.

The S&P/TSX composite index lost 632.32 points or 5.3 per cent on the day to close at 11,228.49.

READ MORE: Archived: Live updates on coronavirus in Canada

In New York, the Dow Jones industrial average was down 582.05 points at 18,591.93. The S&P 500 index was down 67.52 points at 2,237.40, while the Nasdaq composite was down 18.84 points at 6,860.67.

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The Canadian dollar traded for 69.05 cents US compared with an average of 69.77 cents US on Friday.

Click to play video: 'Global News Morning Market & Business Report – March 23, 2020' Global News Morning Market & Business Report – March 23, 2020
Global News Morning Market & Business Report – March 23, 2020

The May crude contract was up 73 cents at US$23.36 per barrel and the May natural gas contract was down 0.2 of a cent at US$1.67 per mmBTU.

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The April gold contract was up US$83 at US$1,567.60 an ounce and the May copper contract was down 7.1 cents at US$2.10 a pound.

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