Today in the markets
U.S. stocks took a beating Monday as data pointing to a China slowdown battered commodities and cyclical stocks. That was before an explosion rocked the Boston Marathon, killing at least two.
Canadian stocks tumbled as commodity prices sold off in the wake of data showing much weaker than expected economic growth in China. Gold saw its biggest one-day drop since the 1980s.
The S&P/TSX Composite was down 332.71 points to 12,004.88, while the TSX Venture Exchange slid 64.35 points to close at 985.26.
Active stocks included Newmont Mining Corp. (NYSE: NEM, Stock Forum), Freeport McMoRan Copper & Gold Inc. (NYSE: FCX, Stock Forum), and Cliffs Natural Resources (NYSE: CLF, Stock Forum).
Newmont Mining was down 6.7% to $33.92. Freeport-McMorRan fell 8.3% to $29.27. Cliffs eased 8.3% to $17.61.
In Canada, Barrick Gold Corp. (TSX: T.ABX, Stock Forum) (NYSE: ABX, Stock Forum) was off 11.5% to $20.30 after gold prices plunged to their lowest level in more than two years, taking the glitter off investments in bullion and miners who produce.
For news about small stocks that made big moves in Monday’s trading, please read the
Stockhouse Canadian Small and Micro-cap Stock Report