North American stock markets plunge again led by continuing tech selloff

TORONTO -- Canada's main stock index rallied to end the trading week but still posted its largest two-day decline in nearly three months led by a continuing selloff of the technology sector.

The S&P/TSX composite index closed down 230.88 points to 16,218.01.

In New York, the Dow Jones industrial average lost 159.42 points to 28,133.31. The S&P 500 index was down 28.10 points at 3,426.96, while the Nasdaq composite was down 144.97 points at 11,313.14.

The Canadian dollar traded for 76.40 cents US compared with 76.20 cents US on Thursday.

The October crude contract was down US$1.60 at US$39.77 per barrel and the October natural gas contract was up 10.1 cents at nearly US$2.59 per mmBTU.

The December gold contract was down US$3.50 at US$1,934.30 an ounce and the December copper contract was up 8.7 cents at US$3.06 a pound.

This report by The Canadian Press was first published Sept. 4, 2020.