Canada's main stock index fell more than 250 points in a broad-based decline Wednesday, while U.S. stock markets also fell. 

The S&P/TSX Composite Index closed down 253.07 points, or 1.21 per cent, at 20,695.02.

In New York, the Dow Jones Industrial Average was down 94.45 points at 37,266.67. The S&P 500 Index was down 26.77 points at 4,739.21, while the Nasdaq Composite was down 88.72 points at 14,855.62.

The Canadian dollar traded for 73.95 cents U.S. compared with 74.17 cents U.S. on Tuesday.

The March crude contract was down four cents at US$72.48 per barrel and the February natural gas contract was down three cents at US$2.87 per mm/BTU.

The February gold contract was down US$23.70 at US$2,006.50 an ounce and the March copper contract was down three cents at US$3.73 a pound.

This report by The Canadian Press was first published Jan. 17, 2024.