It was a combination of suspense and stress over the coronavirus scare and the misfortunes of the energy industry which pushed stocks sharply down even more Wednesday.
The TSX Composite Index tumbled 963.46 points, or 7.6%, to close Wednesday at 11,721.75
The Canadian dollar fell 0.85 cents at 69.37 cents U.S.
Real-estate stocks got bruised worst, with Broadwalk REIT, down $7.59, or 30.3%, to $17.52, while H&R REIT off $3.36, or 26.5%, to $9.30.
Consumer discretionary stocks also fell into the gulch, with REAL Matters sliding $4.84, or 37.2%, to $8.16, while BRP Inc. sank $8.37, or 27.4%, to $22.18.
Among gold issues, B2Gold dropped 83 cents, or 16.7%, to $4.13, while Eldorado Gold gave back $1.72, or 18%, to $7.78.
On the economic beat, the Consumer Price Index rose 2.2% on a year-over-year basis in February, down from a 2.4% increase in January. On a seasonally-adjusted monthly basis, the CPI was up 0.1% in February, matching the increase in January.
ON BAYSTREET
The TSX Venture Exchange deducted 35.91 points, or 9.6%, to 338.81.
All 12 TSX subgroups were in the red on the day, with real-estate toppling 16%, consumer discretionary issues slouching 14.2%, and gold suffering 12.4%.
ON WALLSTREET
Stocks tumbled on Wednesday, reaching a new coronavirus crisis low as investors worried about the economic damage from the pandemic.
The Dow Jones Industrials dropped 1,338.46 points, or 6.3%, to conclude Wednesday at 19,898.92, marking its first close below 20,000 since February 2017.
The broader S&P 500 faltered 131.09 points, or 5.2%, to 2,398.10.
The NASDAQ sank 344.94 points, or 4.7%, to 6,989.84.
Virtually no market was safe from the selling wave, with crude prices having their third-worst decline on record.
Dow Jones reported on Wednesday the Treasury Department is proposing two rounds of direct payments to citizens, which total $250 billion. Those payments, according to the report, would begin April 6.
Treasury is also asking permission to backstop money markets, according to the report. A source familiar with the matter told the media on Tuesday the administration is seeking a stimulus package worth between $850 billion and more than $1 trillion.
Prices for the 10-Year U.S. Treasury sagged, raising yields to 1.21% from Tuesday’s 1.08%. Treasury prices and yields move in opposite directions.
Oil prices dipped $4.51 to $22.44 U.S. a barrel.
Gold prices slid $34.20 to $1,491.60 U.S. an ounce.
