S&P/TSX composite down more than 200 points as price of oil falls

By The Canadian Press on May 30, 2023.

TORONTO – Canada’s main stock index was down more than 200 points as the price of oil fell and losses in energy, financial and base metal stocks helped lead the way lower, while U.S. markets were mixed.

The S&P/TSX composite index was down 228.25 points at 19,739.70.

In New York, where markets had been closed Monday for Memorial Day,the Dow Jones industrial average was down 50.56 points at 33,042.78. The S&P 500 index was up 0.07 points at 4,205.52, while the Nasdaq composite was up 41.74 points at 13,017.43.

The Canadian dollar traded for 73.54 cents UScompared with 73.57 cents US on Monday.

The July crude contract was down US$3.21 from Friday at US$69.46 per barreland the July natural gas contract was down nine cents from Friday at US$2.33 per mmBTU.

The August gold contract was up US$14.00 from Friday at US$1,977.10 an ounce and the July copper contract was down two cents from Friday at US$3.66 a pound.

This report by The Canadian Press was first published May 30, 2023.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)

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