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Lower oil prices pull down TSX, loonie falls to lowest level in 2017



TORONTO — Canada's main stock market shed more than 100 points, while the loonie fell to its lowest level this year as oil prices tumbled amid a surprise buildup in U.S. fuel stockpiles.

At the Toronto Stock Exchange, the S&P/TSX composite index pulled back 111.80 points at 15,496.98, with energy, industrials and financials incurring the biggest losses.

The Canadian dollar fell 0.43 of a U.S. cent at 74.11 cents US due to lower crude prices and a strengthening greenback.

The April crude contract was down $2.86 at US$50.28 per barrel, its largest one-day drop in nine months.  

In New York, the Dow Jones industrial average lost 69.03 points to 20,855.73 and the S&P 500 index fell 5.41 points to 2,362.98, while the Nasdaq composite index gained 3.62 points to 5,5837.55.

In other commodities, April natural gas contracts were up eight cents at US$2.90 per mmBTU, April gold was down $6.70 at US$1,209.40 an ounce, and May copper lost two cents to US$2.60 a pound.

 

The Canadian Press

Read More: News, Business

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