A collapse in oil prices triggered a plunge in the energy sector in Toronto as Canada's main stock index fell more than 1,000 points in late-morning trading to the lowest level in 14 months, while the loonie also took a dive.
The S&P/TSX capped energy index was down more than 20 per cent as Suncor Energy Inc. fell $4.26 to $29.26 and Canadian Natural Resources Ltd. dropped $6.86 to $23.40. The S&P/TSX composite index was down 1,094.53 points at 15,080.49.
In New York, the Dow Jones industrial average was down 1,517.09 points at 24,347.69. The S&P 500 index was down 170.98 points at 2,801.39, while the Nasdaq composite was down 454.19 points at 8,121.43.
The Canadian dollar traded for 73.87 cents US compared with an average of 74.51 cents US on Friday.
The April crude contract was down US$7.18 at US$34.10 per barrel and the April natural gas contract was down one cent at US$1.70 per mmBTU.
The April gold contract was up US$1.70 at US$1,674.10 an ounce and the May copper contract was down 7.7 cents at US$2.48 a pound.
