S&P/TSX composite down more than 100 points, U.S. stock markets also lower

Published February 16, 2022 at 11:35 am

TORONTO — Canada’s main stock index fell more than 100 points in late-morning trading, weighed down by the technology sector as shares of Shopify Inc. fell 18 per cent after the company warned its revenue growth will slow this year.

The S&P/TSX composite index was down 130.62 points at 21,371.93.

In New York, the Dow Jones industrial average was down 217.39 points at 34,771.45. The S&P 500 index was down 28.96 points at 4,442.11, while the Nasdaq composite was down 152.13 points at 13,987.63.

The Canadian dollar traded for 78.74 cents US compared with 78.36 cents US on Tuesday.

The March crude oil contract was up US$2.72 at US$94.79 per barrel and the March natural gas contract was up 19 cents at US$4.50 per mmBTU.

The April gold contract was up US$7.10 at US$1,863.30 an ounce and the March copper contract was up a penny at US$4.54 a pound.