S&P/TSX composite down over 300 points amid worries about global banking sector

Canada’s main stock index was down along with international markets in early trading amid continued worries about the global banking sector.

The S&P/TSX composite index was down 301.99 points at 19,392.17 after troubles at Switzerland’s Credit Suisse rattled markets only days after high profile bank failures in the U.S.

In New York, the Dow Jones industrial average down 389 points at 31,766.40. The S&P 500 index was down 47.21 points at 3,872.08, while the Nasdaq composite was down 109.09 points at 11,319.06.

The Canadian dollar was trading for 72.59 cents US,compared with 73.12 cents US on Tuesday.

The April crude contract was down US$3.18 at US$68.15 per barreland the April natural gas contract was down 10 cents at US$2.48 per mmBTU.

The April gold contract was up US$15.40 at US$1,926.30 an ounceand the May copper contract was down nine cents at US$3.92 a pound.

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