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

Canada’s main stock index was down in late-morning trading, weighed down by losses in the telecommunications and utility sectors, while U.S. stock markets also moved lower.

The S&P/TSX composite index was down 28.94 points at 22,138.09.

In New York, the Dow Jones industrial average was down 244.01 points at 39,563.36. The S&P 500 index was down 16.68 points at 5,237.67, while the Nasdaq composite was down 23.00 points at 16,356.46.

The Canadian dollar traded for 73.68 cents US compared with 73.80 cents US on Thursday.

The May crude oil contract was up 81 cents at US$83.98 per barrel and the May natural gas contract was up seven cents at US$1.83 per mmBTU.

The June gold contract was up US$16.60 at US$2,255.00 an ounce and the May copper contract was up five cents at US$4.06 a pound.