Markets update

On the markets at 9:50 a.m. (ET):

In Toronto, the S&P/TSX composite index was down 227.69 points to 21,134.67.

The Dow Jones industrial average was down 169.79 points to 35,459.54.

The Standard & Poor's 500 index was down 65.07 points to 4,524.31.

The Nasdaq composite index was down 323.82 points to 14,093.73.

The Canadian dollar was trading at 78.90 cents US.

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The Canadian Press