S&P/TSX composite drops over 350 points as concern over global banking sector spreads

TORONTO –

Canada’s major inventory index was down together with worldwide markets in early buying and selling amid continued worries in regards to the international banking sector.

The S&P/TSX composite index was down 301.99 factors at 19,392.17 after troubles at Switzerland’s Credit Suisse rattled markets solely days after excessive profile financial institution failures within the U.S.

In New York, the Dow Jones industrial common down 389 factors at 31,766.40. The S&P 500 index was down 47.21 factors at 3,872.08, whereas the Nasdaq composite was down 109.09 factors at 11,319.06.

The Canadian greenback was buying and selling for 72.59 cents US,in contrast with 73.12 cents US on Tuesday.

The April crude contract was down US$3.18 at US$68.15 per barreland the April pure fuel contract was down 10 cents at US$2.48 per mmBTU.

The April gold contract was up US$15.40 at US$1,926.30 an ounceand the May copper contract was down 9 cents at US$3.92 a pound.