Stock markets plunge on new coronavirus angst and U.S. election uncertainty

S&P/TSX composite index closed down 225.54 points on Thursday

North American stock markets plunged again amid new concerns about the spreading of novel coronavirus and uncertainty over the upcoming U.S. presidential election.

The S&P/TSX composite index closed down 225.54 points at 16,553.99.

In New York, the Dow Jones industrial average was down 969.58 points at 26,121.28. The S&P 500 index was down 106.18 points at 3,023.94, while the Nasdaq composite was down 279.49 points at 8,738.60.

The Canadian dollar traded for US74.54¢ compared with an average of US74.67¢ on Wednesday.

The April crude contract was down US88¢ at US$45.90 per barrel and the April natural gas contract was down US5.5¢ at US$1.77 per mmBTU.

The April gold contract was up US$25 at US$1,668.00 an ounce and the May copper contract was down US1.3¢ at US$2.57 a pound.