Surge in U.S. COVID-19 infections drags stock markets lower

TORONTO — North American stock markets capped a poor weak by losing ground on rising COVID-19 infections in the U.S.

The S&P/TSX composite index closed down 257.16 points at 15,188.98.

In New York, the Dow Jones industrial average was down 730.05 points at 25,015.55. The S&P 500 index was down 74.71 points at 3,009.05, while the Nasdaq composite was down 259.78 points at 9,757.22.

The Canadian dollar traded for 73.12 cents US compared with 73.29 cents US on Thursday.

The August crude contract was down 23 cents at US$38.49 per barrel and the August natural gas contract was down 0.2 of a cent at US$1.54 per mmBTU.

The August gold contract was US$9.70 at US$1,780.30 an ounce and the September copper contract was up 0.1 of a cent at nearly US$2.68 a pound.

This report by The Canadian Press was first published June 26, 2020.