TSX slides down
Hopes of a reprieve on North American stock markets were dashed Friday in another dismal session that capped off a turbulent start to the year.
Toronto's S&P/TSX composite index was down 2.76 points at 12,445.45, a relatively flat close after seven consecutive session of declines that left it more than 20 per cent below its all-time high set in September 2014.
Wall Street declines were even steeper as U.S. markets closed out their worst week since 2011, rattled by concerns over a slowdown in China's economy and plunging oil prices. The Dow Jones was down 167.65 points at 16,346.45. The broader S&P 500 slipped 21.06 points to 1,922.03 and the Nasdaq dropped 45.80 points to 4,643.63.
On commodity markets, the February crude contract lost 11 cents to US$33.16 a barrel - settling down more than 10 per cent on the week. February natural gas rose nine cents to US$2.47 per mmBtu and February gold fell by $9.90 to US$1,097.90 an ounce.
The Canadian dollar was down 0.26 of a cent at 70.68 cents U.S. as it continued to plumb depths not seen since July 2003.