S&P/TSX composite down in late-morning trading, U.S. stock markets also lower

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TORONTO – Canada’s main stock index was down more than 100 points in late-morning trading, weighed down by losses in base metal stocks, while U.S. stock markets also fell.

The S&P/TSX composite index was down 103.16 points at 20,768.98.

In New York, the Dow Jones industrial average was down 247.00 points at 37,468.04. The S&P 500 index was down 30.32 points at 4,712.51, while the Nasdaq composite was down 116.60 points at 14,649.34.

A currency trader walks by the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Wednesday, Jan. 3, 2024. Asian shares dropped after Wall Street started 2024 with a slump, giving back some of its powerful gains from last year. THE CANADIAN PRESS/AP-Lee Jin-man

A currency trader walks by the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at a foreign exchange dealing room in Seoul, South Korea, Wednesday, Jan. 3, 2024. Asian shares dropped after Wall Street started 2024 with a slump, giving back some of its powerful gains from last year. THE CANADIAN PRESS/AP-Lee Jin-man

The Canadian dollar traded for 74.91 cents US compared with 75.10 cents US on Tuesday.

The February crude oil contract was up US$2.07 at US$72.45 per barrel and the February natural gas contract was up 10 cents at US$2.67 per mmBTU.

The February gold contract was down US$30.20 at US$2,043.20 an ounce and the March copper contract was down two cents at US$3.86 a pound.

This report by The Canadian Press was first published Jan. 3, 2024.

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

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