Canada’s main stock index closed down 10.3% to its lowest level in 14 months as a collapse in oil prices triggers a plunge in the energy sector.

The S&P/TSX composite index lost 1,660.78 points to close at 14,514.24 and the capped energy index was down more than 27% as Cenovus Energy Inc. was down 51.6%.

In New York, the Dow Jones industrial average was down 2,2013.76 points or 7.7% at 23,851.02. The S&P 500 index was down 225.81 points at 2,746.56, while the Nasdaq composite was down 624.94 points at 7,950.68.

The Canadian dollar traded for US73.54¢ compared with an average of US74.51¢ on Friday.

The April crude contract was down US$10.15 at US$31.13 per barrel and the April natural gas contract was up seven cents at US$1.78 per mmBTU.

The April gold contract was up US$3.30 at US$1,675.70 an ounce and the May copper contract was down five cents at US$2.51 a pound.