Markets plunged on Thursday, after a few days of moderate gains, followed by soft losses, due to a raft of sour economic news from the United States and a growing lack of confidence in the measures announced by European leaders to deal with the sovereign debt crisis in the eurozone.
Here are the closing numbers
TSX — 12,186.71 (3.12%) down 392.90 points
S&P 500 — 1132.29 (5.16%), down 61.60 points
Dow — 10,990.58 (3.68%), down 419.63 points
Nasdaq — 2,380.43 (5.22%), down 131.05 points
The price of crude oil lost $5.20 to close at $82.38 US a barrel. Gold, on other hand, firmly crossed the $1,800 mark, closing at $1,822.00, a gain of $28.20, as investors fled risk.
The Canadian dollar had erased some of its earlier losses, but was still down just over a cent in late-afternoon trading, at $1.0106, a drop of 1.1 cents.
The Dow Jones industrial average had fallen 417.96 points, or 3.66 per cent, to 10,992.25 ahead of the closing bell, and the Nasdaq composite index had dropped 131.05 points, or 5.22 per cent, to 2,380.43.
Markets overseas lost ground on Thursday as well. The Nikkei in Tokyo fell 1.25 per cent, and the Hang Seng index in Hong Kong closed with a 1.34 per cent loss. The declines were sharper in Europe, where London’s FTSE fell 4.49 per cent, the CAC in Paris dropped 5.48 per cent and Frankfurt’s DAX fell 5.82 per cent.
Financial Post
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