The S&P/TSX composite index was down 222.10 points at 13,814.53 at midafternoon in what was its fourth consecutive losing session and one that threatened to take Canada’s leading index to lows not seen since mid-December.

The Dow Jones industrial futures were down 103 points at 16,814,0, the Nasdaq futures declined 24.8 points to 4,341.50, and the S&P 500 futures fell 5.7 points to 2,019.7.

North American markets continued to widen their losses after the release of fresh economic data indicating a slowdown in China’s economy.

In addition to being the world’s third-largest economy behind the United States and China, it is also the world’s third-largest consumer of oil.

“We’re seeing the impact come through another way, through commodities and the commodity sectors more than a direct effect”, he said.

Elsewhere on commodity markets, September natural gas was four cents higher at US$2.76 per thousand cubic feet and September copper ended its recent slide, rising four cents to US$2.32 a pound.

“Copper has been particularly sensitive to China because of infrastructure build”, Cieszynski said.

The energy subsector declined by 1.78 per cent on the day, while the gold subsector was the biggest gainer, adding 3.68 per cent. “Certainly oil hitting new lows is not good for our market”, said Philip Petursson, managing director, capital markets and strategy, at the portfolio advisory group at Manulife Asset Management.

“As you get more negativity about oil and it feeds on itself, people go away”, he said.