Canadian stock market indices and loonie both take a dive
Stock markets declined around the globe on concerns about China and slumping oil prices. At close Friday, the Dow Jones dropped 390.97 points, the S&P 500 fell 41.55 and the Nasdaq slid 126.58 points.
|The Toronto Stock Exchange S&P/TSX dropped 263 points or a full 2.13 percent to 12,073.46. This is the TSX's lowest level since June 2013. Over the week, the drop will be over 3 percent. The TSX decline was partly due to the sustained drop in oil prices, which made conditions worse for Canada's already depressed energy sector. The price of crude dropped below the crucial $30 level. Canadian oil sands oil, Western Canada Select(WCS) is at its lowest level ever at just under $17 per barrel.|