The Toronto stock market posted a triple-digit loss on a day that saw wild swings on global markets as the price of oil fell yet again.
The Toronto Stock Exchange’s S&P/TSX composite index ended the day down 159.13 points at 11,843.11, the latest lost in a post-Christmas slump that has seen the index lose more than 10 per cent of its value.
New York markets were also negative but well off their worst levels of the day that at one point saw the Dow Jones industrial average shed more than 500 points. At the close the Dow was down 249.28 points at 15,766.74, while the broader S&P 500 fell 22 points to 1,859.33 and the Nasdaq lost 5.26 points to 4,471.69.
On commodity markets, oil continued its recent volatility with the March contract losing $1.22 to settle at US$28.35 a barrel, while the February contract for natural gas added 2.7 cents to US$2.118 per mmBtu and the February contract for gold added $17.10 to US$1106.20 per troy ounce.
The commodity-sensitive loonie added 0.32 of a cent to 69.01 cents U.S. after the Bank of Canada said it would hold its trendsetting policy rate at 0.5 per cent.
(The Canadian Press)