TSX tumbles on oil drops

Canada’s main stock index posted a triple-digit decline in late-morning trading as a lower price for oil weighed on the energy sector.

The S&P/TSX composite index was down 150.40 points at 16,176.95.

In New York, the Dow Jones industrial average was down 347.27 points at 25,429.34. The S&P 500 index was down 36.3 points at 2,819.97, while the Nasdaq composite was down 117.87 points at 7,632.97.

The Canadian dollar traded for 74.25 cents US compared with an average of 74.57 cents US on Wednesday.

The July crude contract was down US$3.47 at US$57.95 per barrel and the July natural gas contract was up 1.8 cents at US$2.58 per mmBTU.

The June gold contract was up US$11.20 at US$1,285.40 an ounce and the July copper contract was down 1.15 cents at US$2.67 a pound.

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