Energy sector drags Toronto stock market lower, US stocks lower

TORONTO – Losses in the energy sector led Canada’s main stock index lower in late-morning trading as the price of oil also lost ground.

The S&P/TSX composite index was down 45.82 points to 15,196.06, after 90 minutes of trading.

In New York, the Dow Jones industrial average was down 85.38 points to 24,515.89. The S&P 500 index was down 6.12 points to 2,649.88 and the Nasdaq composite index was down 4.77 points to 6,977.19.

The Canadian dollar was trading at 79.34 cents US, down from an average price of 79.35 cents US on Monday.

The March crude contract was down 49 cents to US$58.80 per barrel and the March natural gas contract was up seven cents to US$2.62 per mmBTU.

The April gold contract was up $3.60 to US$1,330.00 an ounce and the March copper contract was up six cents to US$3.15 a pound.

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