Stocks tumble, loonie falls

Canada's main stock index posted a triple-digit decline in late-morning trading as energy and resource stocks slid lower and commodity prices moved down.

The S&P/TSX composite index was down 235.15 points at 16,095.52.

In New York, the Dow Jones industrial average was down 319.97 points at 24,979.95. The S&P 500 index was down 35.96 points at 2,804.00, while the Nasdaq composite was down 134.55 points at 7,736.35.

The Canadian dollar was down at 75.94 cents US compared with an average of 76.41 cents US on Tuesday.

The September crude contract was down US$2.17 at US$64.87 per barrel and the September natural gas contract was down 1.1 cents at US$2.95 per mmBTU.

The December gold contract was down US$13.90 at US$1,186.80 an ounce and the September copper contract was down 11.30 cents at US$2.57 a pound.

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