holiday weekend, the stock market moves Friday were exacerbated by low liquidity.
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The S&P 500 index closed down 106.84 points at 4,594.62, while the Nasdaq composite finished down 353.57 points at 15,491.66.Īrchibald said with many traders away from their desks for the U.S. In New York, the Dow Jones industrial average closed down 905.04 points at 34,899.34 in a shortened trading day following the U.S. “This would be the worst day since the plunge that we saw in April of last year when the price (of oil) went negative.'' “Oil prices are getting absolutely smoked here,'' said Mike Archibald, vice-president and portfolio manager with AGF Investments Inc. Oil company MEG Energy Corp.'s stock was down almost 11 per cent while Crescent Point Energy Corp. Air Canada took one of the biggest dives, with its share price falling almost nine per cent on fears a new variant will impact travel demand or bring about more government-imposed travel restrictions.Įnergy stocks also took a beating as the price of oil fell more than 13 per cent.
![honeywell s&p 500 index honeywell s&p 500 index](https://d1-invdn-com.investing.com/content/49ad687f76fa6a1aeef3e2051dcd2aad.png)
Hardest hit were those sectors and companies that have most benefited from recent global progress in getting the COVID-19 pandemic under control, such as airlines and other travel-related stocks. The S&P/TSX composite index was down 487.28 points at 21,125.90, with all but nine of the 231 stocks that make up the index having negative performance Friday.
![honeywell s&p 500 index honeywell s&p 500 index](https://si.wsj.net/public/resources/images/OG-FG844_dowhis_SOC_20201116140054.png)
Canada's main stock index had its worst day in more than a year Friday as worries about a new COVID variant in southern Africa prompted a broad-based selloff by spooked investors.