S&P/TSX composite down nearly 400 points, U.S. stock markets also lower

TORONTO – Canada’s main stock index was down nearly 400 points in a broad-based decline in late-morning trading, while U.S. stock markets also fell a day after the U.S. Federal Reserve raised its key interest rate and said it expected rates still needed to go higher.

The S&P/TSX composite index was down 378.05 points at 19,513.60.

In New York, the Dow Jones industrial average was down 743.70 points at 33,222.65. The S&P 500 index was down 97.99 points at 3,897.33, while the Nasdaq composite was down 325.12 points at 10,845.77.

The Canadian dollar traded for 73.34 cents US compared with 73.74 cents US on Wednesday.

The January crude oil contract was down 80 cents at US$76.48 per barrel and the January natural gas contract was up 17 cents at US$6.60 per mmBTU.

The February gold contract was down US$30.40 at US$1,788.30 an ounce and the March copper contract was down seven cents at US$3.80 a pound.

This report by The Canadian Press was first published Dec. 15, 2022.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)