Loonie falls, S&P/TSX composite down nearly 200 points, but off lows of the day

TORONTO — Canada’s main stock index was down nearly 200 points in late-morning trading, while the loonie fell to its lowest level in more than two decades as Canadian exports to the United States face sweeping tariffs starting Tuesday.

The S&P/TSX composite index was down 189.87 points at 25,343.23 by late-morning after sliding more than 700 points earlier in the day.

In New York, the Dow Jones industrial average was down 38.97 points at 44,505.69. The S&P 500 index was down 35.08 points at 6,005.45, while the Nasdaq composite was down 186.49 points at 19,440.95.

The Canadian dollar traded for 68.52 cents US compared with 69.04 cents US on Friday.

The March crude oil contract was down two cents at US$72.51 per barrel and the March natural gas contract was up 34 cents at US$3.38 per mmBTU.

The April gold contract was up US$26.20 at US$2,861.20 an ounce and the March copper contract was up two cents at US$4.30 a pound.

This report by The Canadian Press was first published Feb. 3, 2025.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press