S&P/TSX composite down more than 200 points as tech sector falls

TORONTO –

Losses in the technology sector weighed on the Toronto stock market as Canada’s main stock index dropped more than 200 points in late-morning trading and U.S. stocks also fell.

The S&P/TSX composite index was down 229.11 points at 21,308.34.

In New York, the Dow Jones industrial average was down 484.16 points at 35,427.65. The S&P 500 index was down 69.73 points at 4,593.12, while the Nasdaq composite was down 285.75 points at 14,608.00.

The Canadian dollar traded for 79.80 cents US compared with 79.87 cents US on Monday.

The March crude oil contract was up US$1.21 at US$84.51 per barrel and the February natural gas contract was up nine cents at US$4.35 per mmBTU.

The February gold contract was up 40 cents at US$1,816.90 an ounce and the March copper contract was down a penny at US$4.41 a pound.

This report by The Canadian Press was first published Jan. 18, 2022