S&P/TSX composite down nearly 500 points, U.S. stocks also plunge lower

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TORONTO — Canada’s main stock index was down nearly 500 points in late-morning trading in a broad-based sell-off, while U.S. stock markets also plunged lower with the Dow industrials down more than 1,000 points.

The S&P/TSX composite index was down 492.93 points at 20,692.02.

In New York, the Dow Jones industrial average was down 1,024.21 points at 33,036.85. The S&P 500 index was down 146.97 points at 4,153.20, while the Nasdaq composite was down 612.91 points at 12,351.95.

The Canadian dollar traded for 77.91 cents US compared with 78.06 cents US on Wednesday.

The June crude contract was up 30 cents at US$108.11 per barrel and the June natural gas contract was down six cents at US$8.36 per mmBTU.

The June gold contract was up US$11.20 at US$1,880.00 an ounce and the July copper contract was down four cents at US$4.30 a pound.

This report by The Canadian Press was first published May 5, 2022.

Companies in this story: (TSX:GSPTSE, TSX:CADUSDX)