Sustaining a declining price for oil, Canada’s main stock index endured a triple-digit decline to kick off the last trading week in October on Monday.
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After daily COVID-19 cases hit a record high Friday of 83,757, new infections over the weekend nearly matched that level and by Monday, the damage was done, and US stock futures fell hard. About a third of the companies in the S&P 500 report quarterly results this week, the first look at third-quarter GDP is out Thursday, and Apple, Facebook, Google-parent Alphabet and Amazon all issue earnings after Thursday’s closing bell.
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The Canadian dollar traded for 75.66 cents US compared with 76.10 cents US on Friday.
Crude oil prices were down $1.35 to $38.51.
The price of gold was down $0.56 to $1,902.26.
In world markets, the Nikkei was down 22.23 points to 23,494.34, the Hang Seng remained at 24,918.78, the FTSE was down 67.47 points to 5,792.01, and the DAX was down 451.21 points to 12,177.18.
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