North American stock markets tumble in late-morning trading

Stock markets tumble

North American stock markets pared earlier losses but still trended negative in early afternoon trading amid ongoing concerns about rising COVID-19 infection rates.

The S&P/TSX composite index was down 148.38 points at 15,522.32.

In New York, the Dow Jones industrial average was down 291.88 points at 26,367.23. The S&P 500 index was down 50.15 points at 3,259.96, while the Nasdaq composite was down 273.49 points at 10,912.10.

The Canadian dollar traded for 75.08 cents US compared with 74.91 cents US on Thursday.

The December crude contract was down 71 cents at US$35.46 per barrel and the December natural gas contract was down less than a penny at US$3.30 per mmBTU.

The December gold contract was up US$12.00 at US$1,880.00 an ounce and the December copper contract was down half a cent at US$3.05 a pound.

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