S&P/TSX composite down more than 200 points, U.S. stock markets also fall

Canada’s main stock index was down more than 200 points in late-morning trading in a broad-based decline, while U.S. stock markets also tumbled lower.

The S&P/TSX composite index was down 226.23 points at 20,858.86.

In New York, the Dow Jones industrial average was down 394.06 points at 38,260.36. The S&P 500 index was down 29.61 points at 4,929.00, while the Nasdaq composite was down 103.37 points at 15,525.58.

The Canadian dollar traded for 73.86 cents US compared with 74.33 cents US on Friday.

The March crude contract was down 39 cents at US$71.89 per barrel and the March natural gas contract was down two cents at US$2.06 per mmBTU.

The April gold contract was down US$18.00 at US$2,035.70 an ounce and the March copper contract was down five cents at US$3.77 a pound.