Losses in base metal and technology stocks helped lead a broad-based decline Thursday as Canada's main stock index fell more than two per cent and U.S. stock markets also tumbled.

The S&P/TSX Composite Index closed down 423.07 points at 19,791.62.

In New York, the Dow Jones Industrial Average was down 370.46 points at 34,070.42. The S&P 500 Index was down 72.20 points at 4,330.00, while the Nasdaq Composite was down 245.14 points at 13,223.99.

The Canadian dollar traded for 74.15 cents U.S. compared with 74.50 cents U.S. on Wednesday.

The November crude contract was down three cents at US$89.63 per barrel and the November natural gas contract was down eight cents at US$2.84 per mm/BTU.

The December gold contract was down US$27.50 at US$1,939.60 an ounce and the December copper contract was down eight cents at US$3.70 a pound.

This report by The Canadian Press was first published Sept. 21, 2023.