Toronto stock market has worst day of the year on trade angst and oil price drop

The Canadian Press
Published Thursday, May 23, 2019 12:57AM EDT
Last Updated Thursday, May 23, 2019 4:27PM EDT

TORONTO -- Canada's main stock index had its worst day of the year as trade uncertainty and a big drop in oil prices weighed on the energy sector.

The S&P/TSX composite index closed down 162.74 points to 16,164.61.

In New York, the Dow Jones industrial average was down 286.14 points at 25,490.47. The S&P 500 index was down 34.03 points at 2,822.24, while the Nasdaq composite was down 122.56 points at 7,628.28.

The Canadian dollar traded at an average of 74.19 cents US compared with an average of 74.57 cents US on Wednesday.

The July crude contract was down US$3.51 at US$57.91 per barrel and the July natural gas contract was up 3.3 cents at US$2.59 per mmBTU.

The June gold contract was up US$11.20 at US$1,285.40 an ounce and the July copper contract was up 0.25 of a cent at US$2.68 a pound.

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