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


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TORONTO — Canada’s main stock index fell more than 400 points in early trading, while U.S. stock markets also tumbled lower, a day after the U.S. Federal Reserve raised its key interest rate by the most since 1994.

The S&P/TSX composite index fell 421.48 points to 19,190.08 shortly after the start of trading.

In New York, the Dow Jones industrial average was down 681.45 points at 29,987.08. The S&P 500 index was down 94.31 points at 3,695.68, while the Nasdaq composite was down 308.03 points at 10,791.12.

The Canadian dollar traded for 77.35 cents US compared with 77.23 cents US on Wednesday.

The August crude contract was down US$1.06 at US$112.03 per barrel and the July natural gas contract was up 47 cents at US$7.89 per mmBTU.

The August gold contract was up US$8.90 at US$1,828.50 an ounce and the July copper contract was down seven cents at US$4.09 a pound.

This report by The Canadian Press was first published June 16, 2022.

Companies in this story: (TSX:GSPTSE, TSX:CADUSDX)



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