Canadian and U.S. stock markets recover partially after significant drop

  • Stock Market News
Canadian and U.S. stock markets recover partially after significant drop
Credit: © Reuters.

On Friday, Canada's primary stock index, the S&P/TSX composite, closed with a minor decline of 11.65 points at 19,779.97, following a substantial loss of over 400 points the previous day. Concurrently, U.S. stock markets also experienced a downturn. The Dow Jones industrial average fell by 106.58 points to reach 33,963.84, while the S&P 500 index dropped by 9.94 points to stand at 4,320.06 and the Nasdaq composite declined by 12.18 points to settle at 13,211.81.

Earlier in the day, broad-based but shallow strength had helped lift Canada's main stock index modestly higher in late-morning trading. The S&P/TSX composite index was up by 54.49 points at 19,846.11 during this period.

In terms of commodities, the November crude contract was up by $0.40 at $90.03 per barrel and the November natural gas contract rose by $0.04 to reach $2.88 per mmBTU on Friday. The December gold contract increased by $6.00 to stand at $1,945.60 an ounce while the December copper contract remained unchanged at $3.70 a pound.

The Canadian dollar traded for 74.20 US cents on Friday, compared with 74.15 US cents on Thursday.

Meanwhile in Seoul, South Korea on Friday, a currency trader was seen passing by screens showing the Korea Composite Stock Price Index ( KOSPI ) and the foreign exchange rate between the U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters.

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