TORONTO – North American stock markets tumbled precipitously on Monday after a massive sell-off in China threw global equity markets into a tailspin. Here is a look at some of the more dramatic movements:
— The S&P/TSX composite index fell more than 700 points shortly after markets opened, but by mid-morning it had recovered some of those losses and was down by 323.01 points at 13,150.66.
— That represents a drop of nearly 15 per cent from its highs of 15,000-plus points in April, putting it well into correction territory. A drop of more than 10 per cent represents a correction.
— The benchmark oil price dipped below the $40 a barrel mark, selling for around $38.82 in mid-morning trading. The last time the price of crude closed below the $40 point was in February 2009.
— The loonie was at around 75.82 cents U.S. in mid-morning trading. The last time the loonie closed below that level was in August of 2004.