Canadian and U.S. stock markets recover partially after significant drop

On Friday, Canada's primary stock index, the S&P/TSX composite, closed with a minor decline of 11.65 points at 19,779.97, following a substantial loss of over 400 points the previous day. Concurrently, U.S. stock markets also experienced a downturn. The Dow Jones industrial average fell by 106.58 points to reach 33,963.84, while the S&P 500 index dropped by 9.94 points to stand at 4,320.06 and the Nasdaq composite declined by 12.18 points to settle at 13,211.81.

Earlier in the day, broad-based but shallow strength had helped lift Canada's main stock index modestly higher in late-morning trading. The S&P/TSX composite index was up by 54.49 points at 19,846.11 during this period.

In terms of commodities, the November crude contract was up by $0.40 at $90.03 per barrel and the November natural gas contract rose by $0.04 to reach $2.88 per mmBTU on Friday. The December gold contract increased by $6.00 to stand at $1,945.60 an ounce while the December copper contract remained unchanged at $3.70 a pound.

The Canadian dollar traded for 74.20 US cents on Friday, compared with 74.15 US cents on Thursday.

Meanwhile in Seoul, South Korea on Friday, a currency trader was seen passing by screens showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between the U.S. dollar and South Korean won at the foreign exchange dealing room of the KEB Hana Bank headquarters.

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