S&P/TSX composite index was down 225.93 points at 11,625.88, shortly after the start of trading
But true financial impact will depend on how long pandemic lasts
In New York, the Dow Jones industrial average had its worst day since 1987
The drop in North American stock markets came after markets in Asia and Europe also fell
Two consecutive quarters of negative growth is considered a recession
The drop in Toronto and on U.S. markets was large enough to trip circuit breakers that forced a pause in trading
Stock markets nose-dived on Monday as crude oil prices sank to a four-year low