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North American stock markets fall on report of near doubling of U.S. capital gains

·1 min read

TORONTO — North American stock markets moved lower on a report that U.S. President Joe Biden is planning to nearly double the capital gains tax on wealthier Americans.

The S&P/TSX composite index closed down 111.61 points to 19,031.64.

In New York, the Dow Jones industrial average lost 321.41 points at 33,815.90. The S&P 500 index was down 38.44 points at 4,134.98, while the Nasdaq composite was down 131.81 points at 13,818.41.

Updated numbers for the Canadian dollar weren't immediately available.

The June crude oil contract was up eight cents at US$61.43 per barrel and the June natural gas contract was up 5.5 cents at US$2.83 per mmBTU.

The June gold contract was down US$11.10 at US$1,782.00 an ounce and the May copper contract was down 0.6 of a cent at US$4.27 a pound.

This report by The Canadian Press was first published April 22, 2021.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)

The Canadian Press