S&P/TSX composite down as oil prices drop and energy sector falls

Canada’s main stock index was down more than 100 points in late-morning trading, weighed down by losses in the energy sector as the price of oil moved lower, while U.S. stock markets also fell.

The S&P/TSX composite index was down 157.23 points at 19,823.68.

In New York, the Dow Jones industrial average was down 91.04 points at 33,654.65. The S&P 500 index was down 20.78 points at 3,944.56, while the Nasdaq composite was down 97.49 points at 11,048.57.

Read more: S&P/TSX composite up almost 100 points, U.S. markets also up

The Canadian dollar traded for 74.16 cents US compared with 74.71 cents US on Friday.

The January crude oil contract was down US$4.71 at US$75.40 per barrel and the December natural gas contract was up 34 cents at US$6.64 per mmBTU.

Story continues below advertisement

The December gold contract was down US$16.70 at US$1,737.70 an ounce and the December copper contract was down seven cents at US$3.56 a pound.

&© 2022 The Canadian Press

View original article here Source