The Bay Street financial district is shown in Toronto on Friday, August 5, 2022. THE CANADIAN PRESS/Nathan Denette
TORONTO – Markets in Canada and the U.S. sank in the last hour of trading Wednesday, with U.S. markets down around 1.6 per cent after the Federal Reserve hiked interest rates.
The S&P/TSX composite index was down 122.14 points at 19,532.78.
In New York, the Dow Jones industrial average was down 530.49 points, or 1.6 per cent, at 32,030.11.The S&P 500 index was down 65.90 points, or 1.7 per cent, at 3,936.97, while the Nasdaq composite was down 190.15 points, or 1.6 per cent, at 11,669.96.
The Canadian dollar traded for 72.93 cents UScompared with 72.96 cents US on Tuesday.
The May crude contract was up US$1.23 cents at US$70.90 per barrel and the May natural gas contract was down 18 cents at US$2.31 per mmBTU.
The April gold contract was up US$8.50 at US$1,949.60 an ounceand the May copper contract was up five cents at US$4.04 a pound.
This report by The Canadian Press was first published March 22, 2023.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)
