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Stock market plummets in Toronto causing trading to pause

The main stock index in Canada plummeted over 1,000 points as trading began today due to fears of the economic consequences of coronavirus.

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Sam Edwards High Level Alberta
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The main stock index in Canada plummeted over 1,000  points as trading began today due to fears of the economic consequences of coronavirus.

In Toronto, the markets dropped so much that they tripped circuit breakers which caused a freeze on trading according to CTV News.

The S&P/TSX index dropped 1,472.75 points remaining at 12,797.34 when trading resumed.

The Toronto market declined across the board.

The Royal Bank of Canada dropped $7.86 to $80.01. Endbridge also dropped $5.02 to $37.94. BCE was at $53.10, down $4.92.

After a 20 recent percent drop, the market is considered a bear market.

The Dow Jones industrial average fell over 1,977.12 points to 21,576.10. The S&P 500 index fell 201.56 points to 2,539.82 while Nasdaq composite dropped 550.04 points to 7,402.01

The Canadian dollar was traded at 72.48 cents US as opposed to 72.75 cents on Wednesday.

The April crude contract dropped US$1.99 to US$30.99 per barrel as the April natural gas contract fell 7.1 cents to US 1.807 per mmBTU.

The April gold contract dropped US$50.80 to US$1,591.50 per ounce while the May copper contract dropped 5.60 cents to US$2.4460 a pound.

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