TORONTO — Stock markets tumbled today, but the Toronto Stock Exchange's main index fared better than its U.S. counterparts due to the strength of gold and other commodities.
The S&P/TSX composite index dropped 48.57 points to 15,033.64 as gains by gold stocks offset some of the losses.
The December gold contract climbed US$9.50 to US$1,292.40 an ounce.
In New York, the Dow Jones industrial average fell 274.14 points to 21,750.73, while the S&P 500 shed 38.10 points to 2,430.01. The Nasdaq composite slipped 123.20 points to 6,221.91.
The Canadian dollar was trading at an average price of 79.07 cents US, up 0.32 of a U.S. cent.
The September crude contract advanced 31 cents to US$47.09 per barrel. The September natural gas contract was up 3.9 cents to about US$2.93 per mmBTU and the September copper contract fell roughly 1.6 cents to about US$2.94 a pound.
The Canadian Press
