The TSX Composite Index tumbled 963.46 points, or 7.6%, to close Wednesday at 11,721.75
The Canadian dollar fell 0.85 cents at 69.37 cents U.S.
Real-estate stocks got bruised worst, with Broadwalk REIT, down $7.59, or 30.3%, to $17.52, while H&R REIT off $3.36, or 26.5%, to $9.30.
Consumer discretionary stocks also fell into the gulch, with REAL Matters sliding $4.84, or 37.2%, to $8.16, while BRP Inc. sank $8.37, or 27.4%, to $22.18.
Among gold issues, B2Gold dropped 83 cents, or 16.7%, to $4.13, while Eldorado Gold gave back $1.72, or 18%, to $7.78.
On the economic beat, the Consumer Price Index rose 2.2% on a year-over-year basis in February, down from a 2.4% increase in January. On a seasonally-adjusted monthly basis, the CPI was up 0.1% in February, matching the increase in January.
ON BAYSTREET
The TSX Venture Exchange deducted 35.91 points, or 9.6%, to 338.81.
All 12 TSX subgroups were in the red on the day, with real-estate toppling 16%, consumer discretionary issues slouching 14.2%, and gold suffering 12.4%.
ON WALLSTREET
Stocks tumbled on Wednesday, reaching a new coronavirus crisis low as investors worried about the economic damage from the pandemic.
The Dow Jones Industrials dropped 1,338.46 points, or 6.3%, to conclude Wednesday at 19,898.92, marking its first close below 20,000 since February 2017.
The broader S&P 500 faltered 131.09 points, or 5.2%, to 2,398.10.
The NASDAQ sank 344.94 points, or 4.7%, to 6,989.84.
Virtually no market was safe from the selling wave, with crude prices having their third-worst decline on record.
Dow Jones reported on Wednesday the Treasury Department is proposing two rounds of direct payments to citizens, which total $250 billion. Those payments, according to the report, would begin April 6.
Treasury is also asking permission to backstop money markets, according to the report. A source familiar with the matter told the media on Tuesday the administration is seeking a stimulus package worth between $850 billion and more than $1 trillion.
Prices for the 10-Year U.S. Treasury sagged, raising yields to 1.21% from Tuesday’s 1.08%. Treasury prices and yields move in opposite directions.
Oil prices dipped $4.51 to $22.44 U.S. a barrel. Gold prices slid $34.20 to $1,491.60 U.S. an ounce.