North American markets were lower Wednesday amid continued uncertainty over the health of the Chinese economy while the Canadian dollar continued to plunge as oil prices plumbed multi-year lows.
The S&P/TSX composite index plummeted 157.24 points, or 1.1%, to close at 14,036.63
The Canadian dollar dumped 0.30 cents at 76.30 cents U.S.
The index's slide was its eighth in 10 sessions.
Energy issues were the worst off, as Baytex Energy was pummeled $1.33, or 15.7%, to $7.12, and Paramount Resources slipped $1.76, or 12.5%, to $12.26.
Industrials were also hard hit, as Black Diamond Group dropped 61 cents, or 6.3%, to $9.15, while Newalta Corporation moved lower 56 cents, or 4.8%, to $11.12.
Global base metals also took a hit, as Thompson Creek Metals went south in price three cents, or 4.6%, to 62 cents, while Orbite Technologies faltered a penny, or 4.2%, to 23 cents.
Gold stocks had a wonderful day, particularly B2Gold, which climbed 17 cents, or 11.1%, to $1.70, while Agnico Eagle Mines gained $2.45, or 7.6%, to $34.53.
Telecoms also took on ground, with Rogers Communications gaining 62 cents, or 1.4%.
ON BAYSTREET
The TSX Venture skidded 5.25 points to 558.17.
All but three of the 14 TSX subgroups were lower, with energy plunging 4.3%, industrials down 1.7%, and global base metals off 1.3%.
The three gainers were gold, up 3.8%, materials, up 1.3%, and telecoms, ahead 0.2%.
ON WALLSTREET
U.S. stocks closed lower on Wednesday after an earlier than expected release of the Federal Reserve's minutes, global growth concerns and a plunge in oil prices sent them for a wild ride.
The Dow Jones industrial average dumped 162.61 points to 17,348.73, led lower by Chevron and with McDonald's and Nike the only advancers.
The S&P 500 dropped 17.31 points to 2,079.61, as energy led eight sectors lower with utilities and telecommunications advancing.
The NASDAQ index fell 40.30 points to 5,019.05.
Investors also took in a slew of news, as Lowe's reported earnings per share that missed expectations, but its revenue and same-store sales came in above forecasts. The company's full-year guidance also came in better than expected.
Staples also reported earnings per share of 12 cents, matching estimates, on revenue that was essentially in line with expectations, while Hormel Foods beat earnings per share estimates, but came in light on revenue.
Furniture make La-Z-Boy posted earnings per share of 27 cents a share, beating expectations, while same-store sales rose 5.3%.
Analog Devices reported 77 cents U.S. earnings per share for last quarter, beating estimates, while revenue also came in better than expected.
Target also posted better-than-expected earnings, beating earnings per share estimates by 11 cents U.S., sending the stock up over 4% before paring its gains.
L Brands, NetApp and Popeyes Louisiana Kitchen were all scheduled to report after the bell.
Wall Street also weighed the latest reading from the Consumer Price Index, which rose 0.1% in July versus the expected 0.2% increase, the U.S. Labor Department said, adding that core CPI also rose 0.1%.
China's Shanghai Composite closed 1.2% higher overnight after falling over 4% at its session lows.
Prices for 10-year U.S. Treasuries regained strength, lowering yields to 2.12% from Tuesday’s 2.19%. Treasury prices and yields move in opposite directions.
Oil prices fell $2.09 a barrel to $40.53 U.S.
Gold prices improved $15.20 to $1,132.10 U.S. an ounce.
