Rocky 2022 continues as Canada, U.S. stock markets start week on downward path

Photo: The Canadian Press

Canadian and U.S. stock markets started the week on a downward trajectory, with losses posted across nearly all sectors in mid-morning trading.

The S&P/TSX composite index sank 508.08 points at 20,113.31.

In New York, the Dow Jones industrial average plunged 602.82 points at 33,662.55. The S&P 500 index dropped 102.95 points at 4,294.99, while the Nasdaq composite fell 379.70 points at 13,389.22.

The Canadian dollar traded for 78.92 cents US compared with 79.71 cents US on Friday.

The March crude contract was down US$1.79 at US$83.35 per barrel and the March natural gas contract was up 11 cents at US$3.90 per mmBTU.

The February gold contract was up 80 cents at US$1,832.60 an ounce and the March copper contract slid nine cents to US$4.44 a pound.