The Toronto Stock Exchange fell victim Thursday (January 6) to the same market rout hitting the globe after the Chinese government devalued the yuan earlier in the day.
The Toronto Stock Exchange's S&P/TSX composite index shed 181.76 points, down 1.43%, as of 9 a.m. PT.
Meantime, the price of oil fell to US$32.62 a barrel amid fears China's economy was slowing down.
The Shanghai Stock Exchange fell 7% in the wake of the Chinese government’s decision to weaken the value of its currency. Trading was open for only 30 minutes Thursday morning before being halted for the second time this week.
Japan’s Nikkei exchange fell 2.2% amid the selloffs, while Europe’s FTSE Eurofirst was down 2.3% and Euro STOXX closed 2.5% lower.
But the price of gold jumped 1.46% to US$1,107.79/ounce by 9 a.m. PT as investors sought safe havens for their assets.
