TORONTO (CP) — The Toronto stock market was unable to extend its stellar advance for a third day Wednesday, slumping to a triple-digit loss as oil prices plunged below the US$40-a-barrel level.
The S&P/TSX composite index ended the day down 172.24 points to 13,463.82 after having soared almost 268 points over the first two trading days of the week.
In New York, the Dow Jones average of 30 stocks closed down 158.67 points to 17,729.68, while the broader S&P 500 fell 23.12 points to 2,079.51 and the Nasdaq gave back 33.08 points to 5,123.22.
On the commodity markets, the January contract for benchmark crude oil fell $1.91 to end trading at US$39.94 a barrel, January natural gas shed 6.6 cents to settle at US$2.165 per mmBtu and the February gold contract dropped $9.70 to US$1,053.80 an ounce.
The Canadian dollar ended the day up 0.08 of a cent to 74.91 cents U.S. after the Bank of Canada announced it was keeping its key overnight lending rate steady at 0.5 per cent.
The Canadian Press
