Toronto and U.S. stock markets down at late-morning, loonie falls

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TORONTO — Canada’s main stock index posted a triple-digit decline in late-morning trading in the face of broad-based weakness as U.S. stock markets also moved lower.

The S&P/TSX composite index was down 156.63 points at 16,140.83.

In New York, the Dow Jones industrial average was down 256.46 points at 25,091.31. The S&P 500 index was down 22.99 points at 2,779.40, while the Nasdaq composite was down 66.74 points at 7,540.61.

The Canadian dollar traded for 73.93 cents US compared with an average of 74.20 cents US on Tuesday after the Bank of Canada kept its key interest rate on hold at 1.75 per cent. The central bank pointed to “accumulating evidence” of improvements in the economy, but noted that trade risks remain.

The July crude contract was down US$1.45 at US$57.69 per barrel and the July natural gas contract was up 5.4 cents at US$2.64 per mmBTU.

The June gold contract was up US$4.40 at US$1,281.50 an ounce and the July copper contract was down 3.25 cents at US$2.66 a pound.

 

Companies in this story: (TSX:GSPTSE, TSX:CADUSD=X)

 

The Canadian Press

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