S&P/TSX composite down more than 400 points, U.S. stock markets also fall

Photo: The Canadian Press

Canada's main stock index plunged more than 400 points in late-morning trading amid a broad-based decline led by losses in the energy and base metal sectors, while U.S. stock markets also fell.

The S&P/TSX composite index was down 437.03 points at 18,591.83.

In New York, the Dow Jones industrial average was down 669.52 points at 30,427.74. The S&P 500 index was down 74.40 points at 3,750.93, while the Nasdaq composite was down 112.94 points at 11,014.91.

The Canadian dollar traded for 76.62 cents US compared with 77.72 cents on Monday.

The August crude contract was down US$8.09 at US$100.34 per barrel and the August natural gas contract was down 18 cents at US$5.55 per mmBTU.

The August gold contract was down US$34.20 at US$1,767.30 an ounce and the September copper contract was down 18 cents at US$3.43 a pound.