At the open: TSX starts lower on record contraction of GDP in March [Toronto Globe and Mail (Ontario, Canada)]
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Source: Toronto Globe and Mail
At the open: TSX starts lower on record contraction of GDP in March Canada's main stock index fell at open on Wednesday after data showed the domestic economy shrank a record 9% in March from February, while investors eyed an interest rate decision by the Bank of Canada. Statistics Canada, in a flash estimate, said the coronavirus outbreak forced a shutdown of economic activity resulting in a monthly decline in gross domestic product (GDP) which would be the most since the series started in 1961. At 9:32 a.m. ET, the Toronto Stock Exchange’s S&P/TSX Composite index was down 304.6 points, or 2.14%, at 13,953.83. U.S. stock indexes slumped 2% minutes after the open on Wednesday as a record drop in retail sales and dour first-quarter earnings reports lent weight to forecasts for the biggest economic slump since the 1930s. The Dow Jones Industrial Average fell 349.04 points, or 1.46%, at the open to 23,600.72. The S&P 500 opened lower by 50.42 points, or 1.77%, at 2,795.64, while the Nasd
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