North American markets tumble on IMF report downgrading growth forecast for 2019

 

A Toronto Stock Exchange ticker is seen at The Exchange Tower in Toronto on Thursday, August 18, 2011. THE CANADIAN PRESS/Aaron Vincent Elkaim

TORONTO — Canada’s main stock index’s six-day winning streak has ended after the International Monetary Fund lowered its global growth forecast for the year.

The S&P/TSX composite index closed down 70.84 points to 16,336.45.

In New York, the Dow Jones industrial average was down 190.44 points at 26,150.58. The S&P 500 index was down 17.57 points at 2,878.20, while the Nasdaq composite was down 44.61 points at 7,909.28.

The Canadian dollar traded at an average of 75.10 cents US compared with an average of 75.05 cents US on Monday.

The May crude contract was down 42 cents at US$63.98 per barrel and the May natural gas contract was down 0.9 of a cent at US$2.70 per mmBTU.

The June gold contract was up US$6.40 at US$1,308.30 an ounce and the May copper contract was up 0.2 of a cent at US$2.93 a pound.

 

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

 

The Canadian Press

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