North American stock markets partially recover from early crypto-induced losses

·1 min read

TORONTO — North American stock markets partially recovered from a morning dip fuelled by a big pullback in cryptocurrency followed by the Federal Reserve later indicating it could soon discuss tapering stimulus.

The S&P/TSX composite index closed down 90.02 points to 19,417.03.

In New York, the Dow Jones industrial average was down 164.62 points at 33,896.04. The S&P 500 index was down 12.15 points at 4,115.68, while the Nasdaq composite was down 3.90 points at 13,299.74.

The Canadian dollar traded for 82.64 cents US compared with 82.98 cents US on Tuesday.

The July crude oil contract was down US$2.15 at US$63.35 per barrel and the June natural gas contract was down five cents at US$3.03 per mmBTU.

The June gold contract was up US$13.50 at US$1,881.50 an ounce and the July copper contract was down 14.9 cents at nearly US$4.58 a pound.

This report by The Canadian Press was first published May 19, 2021.

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

The Canadian Press