S&P/TSX composite swings wildly to close its worst week in more than 2 years

TORONTO — A rare sizable decline in crude oil prices overwhelmed a tech bounce to push Canada’s main stock index lower, ending a brutal week that saw it plunge 6.6 per cent in its worst performance in more than two years.

The S&P/TSX composite index closed down 73.58 points to 18,930.48 in a daily swing of more than 400 points.

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In New York, the Dow Jones industrial average was down 38.29 points at 29,888.78. The S&P 500 index was up 8.07 points at 3,674.84, while the Nasdaq composite was up 152.25 points at 10,798.35.

The Canadian dollar traded for 76.72 cents US compared with 77.35 cents US on Thursday.

The August crude contract was down US$7.26 at US$107.99 per barrel and the July natural gas contract was down 52 cents at US$6.94 per mmBTU.

The August gold contract was down US$9.30 at US$1,840.60 an ounce and the July copper contract was down 9.5 cents at US$4.01 a pound.