BUSINESS

TSX Drops 200 Points, Dow Jones Hits New Record High

09/19/2014 04:43 EDT | Updated 06/16/2017 01:02 EDT

TORONTO — The Toronto stock market pulled back sharply on Friday, weighed down by metals and mining, gold and financials stocks.

The S&P/TSX composite index dropped 200.19 points to 15,265.35. The Canadian dollar was unchanged at 91.35 cents US.

The big decline in the Toronto exchange came despite optimism in most global markets following Scotland's decision to remain part of the United Kingdom. Fifty-five per cent of Scots voted against independence in the referendum Thursday, compared with 45 per cent in favour of separation.

Meanwhile, U.S. markets were mixed amid the stability from the vote and the blockbuster IPO debut of Chinese e-commerce company Alibaba. The Dow Jones industrials was ahead 13.75 points at 17,279.74, to hit another record high. The Nasdaq dipped 13.64 points at 4,579.79 and the S&P 500 index was relatively flat, losing 0.96 of a point to 2,010.40.Metals and mining was the leading decliner on the Toronto market, down 4.03 per cent even as December copper was flat at US$3.09 a pound.

The gold sector followed, down by 2.39 per cent as December bullion lost $10.30 to US$1,216.60 an ounce. Meanwhile, the November crude contract on the New York Mercantile Exchange fell 33 cents to US$91.65 a barrel and the energy sector faded 1.87 per cent.

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