TSX sees triple-digit decline, loonie down more than half a cent
A man watches the financial numbers at the TMX Group in Toronto's financial district, May 9, 2014. (Darren Calabrese / THE CANADIAN PRESS)
The Canadian Press
Published Tuesday, March 15, 2016 1:19AM EDT
Last Updated Tuesday, March 15, 2016 10:58AM EDT
TORONTO -- A decline in resource stocks helped push the Toronto Stock Exchange to a triple-digit decline early this morning.
The S&P/TSX composite index was down 156.7 points or nearly 1.2 per cent after an hour of trading, dropping to 13,320.84.
Three heavily weighted subindexes were down sharply: metals and mining, base metals and energy.
The TSX health-care index was the biggest decliner, as shares of Valeant Pharmaceuticals plunged, but its weighting is relatively light.
The Canadian dollar was at 74.79 cents US, down 0.58 from Monday close.
The decline in Toronto's main index was bigger than at its U.S. counterparts, which are less affected by resource stocks.
The Dow Jones industrial average dropped 14.04 points to 17,171.61.
The broader S&P 500 composite index declined 8.61 points to 2,011.03 and the Nasdaq composite index lost 21.14 points to 4,729.14.
The April crude contract was down 97 cents at US$36.21 per barrel and April gold contracts fell $11 to US$1,234.10 an ounce.