Losses in energy sector weigh on TSX as oil plunges, U.S. also down

The Canadian Press</span>
Published Friday, November 23, 2018 11:25AM EST
Last Updated Friday, November 23, 2018 4:41PM EST

TORONTO -- A sharp plunge in oil prices cascaded across the energy sector and into the wider market to push North American indexes into the red.

The S&P/TSX composite index closed down 80.85 points at 15,010.73, led by losses in the energy index as crude hit its lowest price in over a year.

On a shortened trading day in New York, the Dow Jones industrial average closed down 178.74 points at 24,285.95. The S&P 500 index closed down 17.37 points at 2,6432.56, while the Nasdaq composite closed down 33.27 points at 6,938.98.

The Canadian dollar averaged 75.60 cents US, down 0.13 of a US cent from Thursday, as the drop in crude prices outweighed positive retail and inflation numbers from Statistics Canada.

The January crude contract ended down US$4.21 at $50.42 per barrel and the December natural gas contract ended down 12 cents at US$4.36 per mmBTU.

The December gold contract closed down US$4.80 at US$1,223.20 an ounce and the December copper contract closed down three cents at US$2.77 a pound.

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