May 17, 2017
By Michael Kramer
The Toronto Stock Exchange suffered its biggest loss of the year – as North American markets took a steep dive over concerns that turmoil in Washington could be a drag on U-S President Donald Trump’s pro-business agenda.
The S&P/TSX composite index was down 269.65 points at 15,273.68 at the close – dropping 1.73 per cent.
Gold stocks were the TSX’s only positive sector – as investors helped the precious metal surge $22.30 to US$1,258.70 an ounce.
Things were worse in New York – where the Dow Jones industrial average lost 372.82 points to 20,606.93 – and the Nasdaq composite index fell 158.63 points to 6,011.24.
The Loonie was trading at an average value of 73.45 cents U-S, down 0.10 of a cent.
Oil advanced 41 cents to US$49.07 per barrel.