S&P/TSX composite down more than 300 points in morning trading, U.S. stocks also fall

The S&P/TSX composite index screen is seen at the TMX Market Centre in Toronto, on Nov. 11, 2022. (THE CANADIAN PRESS/ Tijana Martin)

TORONTO — Canada's main stock index fell in late-morning trading on Wednesday on broad-based losses as U.S. markets were also in decline.

The S&P/TSX composite index was down 384.02 points at 20,148.91.

In New York, the Dow Jones industrial average was down 288.59 points at 35,342.09. The S&P 500 index was down 59.25 points at 4,517.48, while the Nasdaq composite was down 290.49 points at 13,993.42.

The Canadian dollar traded for 74.95 cents US compared with 75.24 cents US on Tuesday.

The September crude oil contract was down US$1.78 at US$79.59 per barrel and the September natural gas contract was down nine cents at US$2.47 per mmBTU.

The December gold contract was down US$7.60 at US$1971.20 an ounce and the September copper contract was down six cents at US$3.85 a pound.