The Canadian dollar seaized at the value of 79.81 cents US

In currency markets, the Canadian dollar closed at an average trading value of 79.81 cents U.S., down 0.30 of a U.S. cent.

Canada’s main stock market pared back some of its losses as U.S. stocks closed sharply higher after another turbulent day of steep ups and downs.

The Toronto Stock Exchange’s S&P/TSX composite index was ahead 29.12 points at 15,363.93, led by strong gains in the health-care and base metals sectors.

North American markets extended last Friday’s slump, as the Dow Jones industrial average plunged nearly 1,600 points during today’s trading session.

In New York, the Dow finished the day down 1,175.21 points to 24,345.75, or 4.6 per cent, erasing its gains for the year.

On the basis of percentage, it was the Dow’s biggest drop since the financial crisis in 2008, revealed sources.

Meanwhile, the S&P 500 was up 46.20 points at 2,695.14 and the Nasdaq composite index was up 148.35 points at 7,115.88.

The Dow posted its biggest percentage decline since August 2011 on Monday, driven by fears the U.S. Federal Reserve will raise interest rates faster than expected.

In currency markets, the Canadian dollar closed at an average trading value of 79.81 cents U.S., down 0.30 of a U.S. cent.

The March crude contract was down 76 cents to $63.39 (U.S.) per barrel and the March natural gas contract was up one cent to $2.76 per mmBTU.

The April gold contract was down $7.00 to $1,329.50 an ounce and the March copper contract was down three cents to $3.19 a pound.

Image Source: THE CANADIAN PRESS/Darren Calabrese

by Israt Yasmin, The Blogging Connection

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