Canadian stocks suffered a stunning 12% drop, the largest in eight decades, as investors size up the likelihood of a global recession because of the coronavirus pandemic.
The S&P/TSX Composite Index had its biggest one-day decline since May 1940, according to data compiled by Bloomberg. The 230 companies in the benchmark collectively lost at least C$265-billion in market value. Trading on the Toronto Stock Exchange was halted minutes after the market opened as a wave of selling tripped the circuit-breaker rule.