Premise: On the markets at 9:50 a.m. (ET): In Toronto, the S&P/TSX composite index was down 128.16 points to 16,321.98. The Dow Jones industrial average was down 252.62 points to 24,328.27. The Standard & Poor’s 500 index was down 24.21 points to 2,730.67. The Nasdaq composite index was down 96.72 points to 7,596.10. The Canadian dollar was trading at 75.11 cents US, down from Friday’s average value of 75.14 cents US.
Hypothesis: The Canadian dollar was trading at under seventy six cents.