BNN Bloomberg's closing bell update: September 21, 2022
Canada's main stock index ended down almost one per cent and U.S. stock indexes closed even lower following whipsaw trading after the U.S. Federal Reserve raised its key interest rate by three-quarters of a percentage point and signalled more sharp hikes to come.
The S&P/TSX composite index ended down 184.15 points, or 0.95 per cent, at 19,184.54.
In New York, the Dow Jones industrial average was down 522.45 points, or 1.7 per cent, at 30,183.78. The S&P 500 index was down 66 points, or 1.7 per cent, at 3,789.93, while the Nasdaq composite was down 204.86 points, or 1.8 per cent, at 11,220.19.
The Canadian dollar traded for 74.64 cents US compared with 74.93 cents US on Tuesday.
The November crude contract was down US$1 at US$82.94 per barrel and the October natural gas contract was up six cents at US$7.78 per mmBTU.
The December gold contract was up US$4.60 at US$1,675.70 an ounce and the December copper contract was down four cents at US$3.47 a pound.