(Reuters) - Canada's main stock index fell sharply on Friday as investors continued to dump equities amid fears over the economic impact of the coronavirus, with energy stocks hurt by steep declines in oil prices.
The number of people infected with the new coronavirus across the world surpassed 100,000 on Friday as the economic damage intensified, with business districts beginning to empty.
Global equities continued their downward spiral as concerns over the economic impact of the virus showed no signs of abating, prompting a widespread rush into safe havens. [MKTS/GLOB]
The energy sector dropped 2.1% as oil prices were dealt a dual blow by Russia rejecting steeper OPEC+ cuts, and persistent demand concerns bought about by the virus. [O/R]
At 9:40 a.m. ET (1440 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 356.45 points, or 2.15%, at 16,197.54.
The materials sector, which includes precious and base metals miners and fertilizer companies, lost 1%.
On the TSX, 3 issues were higher, while 226 issues declined for a 75.33-to-1 ratio to the downside, with 32.07 million shares traded.
Alaris Royalty fell 10.1%, the most on the TSX, after posting a fourth-quarter loss. The second biggest decliner was Vermilion Energy, down 8%.
The largest percentage gainers on the TSX were Barrick Gold, which jumped 2.3%, and TMX Group Limited, which rose 1.2%.
The most heavily traded shares by volume were Suncor Energy, BCE Inc, and Bombardier Inc.
The TSX posted one new 52-week high and 39 new lows.
Across all Canadian issues there were 53 new 52-week highs and 130 new lows, with total volume of 51.50 million shares.
