By MarketsFarm
WINNIPEG, March 12 (MarketsFarm) The Canadian dollar was lower on Monday morning. Global financial markets and oil remain wracked with uncertainty following the World Health Organization’s declaration that the COVID-19 coronavirus is officially a pandemic.
At 8:40 CDT, the Canadian dollar was at US$0.7233 or C$1.382, which compares with Wednesday’s North American close of US$0.7275 or C$1.3746.
The TSX opened 7.5 per cent lower, triggering a circuit breaker that brought trading to a halt for 15 minutes shortly after trading opened for the day. The TSX was down by 1,309.13 points at 12,960.96. The S&P 500 Index was down by seven per cent, losing 192.33 points to hit 2,549.05. The Dow Jones lost 1,696.31 points at 21,856.91. The NASDAQ also decreased by over seven per cent, down 558.80 to hit 7,393.25.
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Benchmark oil prices were sweepingly lower, partially due to a travel ban imposed by United States President Donald Trump that limits travel between the U.S. and Europe for 30 days. Brent crude was down by nearly 9 per cent, losing US$3.21 at US$32.58 per barrel. West Texas Intermediate (WTI) was down by US$1.73 to hit US$33.12 per barrel.
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