March 12, 2020 / 11:43 AM / 18 days ago

TSX plunges to four-year low as U.S. curbs travel from Europe

(Reuters) - Canada’s main stock index plummeted on Thursday, prompting a pause in trading as the United States’ curbs on travel from Europe due to the coronavirus outbreak hit risk sentiment.

FILE PHOTO: Businessmen pass the Toronto Stock Exchange sing in Toronto, Ontario, Canada July 6, 2017. REUTERS/Chris Helgren/File Photo

- Trading on the TSX was halted shortly after the open in the wake of humongous losses, resuming at 9:51 a.m. ET. The index sank further after trading resumed.

- At 9:53 a.m. ET (1353 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 1,572.02 points, or 11.02%, at 12,698.07.

- U.S. President Donald Trump on Wednesday ordered travel from Europe to the United States restricted for 30 days, blindsiding investors and prompting a widespread rush out of riskier assets.

- Canada’s energy sector dropped 12.4% as U.S. crude prices fell 8.7% a barrel, while Brent crude lost 9.1%. [O/R]

- The financials sector slipped 9.4%. The industrials sector fell 10.6%.

- The materials sector, which includes precious and base metals miners and fertilizer companies, lost 14.1%.

- No issues rose on the TSX, while 230 issues fell, with 50.33 million shares traded.

- Chemtrade Logistics Income Fund (CHE_u.TO) fell 28.5%, the most on the TSX, while the second-biggest decliner was Hudbay Minerals, down 28.1%.

- The most heavily traded shares by volume were Husky Energy, Aurora Cannabis, and Bombardier B.

- The TSX posted no new 52-week highs and 154 new lows.

- Across all Canadian issues there were 14 new 52-week highs and 669 new lows, with total 92.30 million shares traded.

Reporting by Ambar Warrick in Bengaluru; Editing by Sriraj Kalluvila and Vinay Dwivedi

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