Stock mar­kets plunge amid un­cer­tainty

Cape Breton Post - - News -

TORONTO - Stock mar­kets around the world have plunged amid ques­tions about Don­ald Trump’s abil­ity to fol­low through with his main eco­nomic poli­cies.

The Toronto Stock Ex­change’s S&P/TSX com­pos­ite in­dex was down 179.28 points to 15,364.05 af­ter 90 min­utes of trad­ing.

Although it’s been among the worst morn­ings this year for Canada’s big­gest stock mar­ket, there was a bit of lift from gold stocks as the price of bul­lion jumped.

Gold is of­ten con­sid­ered a safe haven in times of po­lit­i­cal un­cer­tainty.

The June gold con­tract was up $22.90 at US$1,259.30 an ounce.

In New York, the Dow Jones in­dus­trial av­er­age fell 281.11 points to 20,698.64, the S&P 500 in­dex lost 31.96 points to 2,368.71 and the Nas­daq com­pos­ite in­dex was down 112.24 points to 6,057.63.

The Cana­dian dol­lar was trad­ing at 73.52 cents US, slightly weaker than Tues­day’s av­er­age price of 73.55 cents US.

The June crude con­tract was up 53 cents at US$49.19 per bar­rel and the June nat­u­ral gas con­tract was down three cents at US$3.20 per mmBTU.

The July cop­per con­tract was down one cent at US$2.54 a pound.

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