S&P/TSX composite index plunges around 100 points amid tech stocks decline; U.S. stocks mirror downward trend

Canada’s primary stock index experienced a drop of nearly 100 points, primarily due to losses in the technology sector, while U.S. stock markets saw a decline in late-morning trading.

The S&P/TSX composite index was down 90.58 points at 20,114.29.

In New York, where stock markets were closed on Tuesday, the Dow Jones industrial average was down 49.39 points at 34,369.08. The S&P 500 index was down 4.67 points at 4,450.92, while the Nasdaq composite was down 15.66 points at 13,801.11.

The Canadian dollar traded for 75.40 cents US compared with 75.65 cents US on Tuesday.

The August crude contract was up US$1.61 from Monday at US$71.40 per barrel and the August natural gas contract was down three cents from Monday at US$2.69 per mmBTU.

The August gold contract was up 70 cents from Monday at US$1,930.20 an ounce and the September copper contract was down two cents from Monday at US$3.77 a pound.

&copy 2023 The Canadian Press

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