TSX reopens after glitch — and the stock market rout continues

The Toronto Stock Exchange reopened Friday after a technical glitch shut down trading early the day before — and investors picked up right where they left off by dumping shares in just about everything.

Canada’s largest stock exchange opened down 592 points or about 3.5 per cent as the fear that has settled into financial markets this week continued to batter the share prices of Canadian companies.

A glitch on Thursday that shut the TSX down early closed down the market at a time of widespread fear. The TSX said the problem was caused by a “system capacity issue” and promised it was fixed ahead of Friday’s trading day.

In New York, the rout continued with the Dow off another 600 points or 2.5 per cent. Other U.S. indices such as the Nasdaq and the S&P 500 were also down by a similar amount in percentage terms.

Overseas markets were even worse, as most major stock markets in Asia and Europe were down by between three and four per cent.

“As if this week hasn’t been bad enough for markets, the slide in equities accelerated yesterday as … markets underwent their worst day this week, as more and more countries reported fresh cases of the coronavirus,” said Michael Hewson, chief markets analyst at CMC Markets.


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