Canada's main stock index was down more than 200 points in late-morning trading in a broad-based decline led by the base metal, technology and industrial sectors, while U.S. stock markets also moved lower.
The S&P/TSX composite index was down 221.18 points at 20,271.65.
In New York, the Dow Jones industrial average was down 236.64 points at 34,387.66. The S&P 500 index was down 29.54 points at 4,423.99, while the Nasdaq composite was down 117.86 points at 13,592.38.
The Canadian dollar traded for 74.46 cents US compared with 74.12 cents US on Monday.
The November crude contract was up US$1.28 at US$91.86 per barrel and the October natural gas contract was up for 13 cents at US$2.85 per mmBTU.
The December gold contract was up US$1.50 at US$1,954.90 an ounce and the December copper contract was down four cents at US$3.74 a pound.