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

A currency trader passes by the screens showing the foreign exchange rates at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, Nov. 30, 2022. (AP Photo/Ahn Young-joon)

TORONTO -

Canada's main stock index was down in late-morning trading, weighed down by losses in the industrial and telecommunication sectors, while U.S. stock markets also fell.

The S&P/TSX composite index was down 39.21 points at 20,486.24.

In New York, the Dow Jones industrial average was down 178.05 points at 34,216.96. The S&P 500 index was down 31.48 points at 4,045.09, while the Nasdaq composite was down 117.59 points at 11,364.86.

The Canadian dollar traded for 74.20 cents US compared with 74.44 cents US on Thursday.

The January crude oil contract was up 14 cents at US$81.36 per barrel and the January natural gas contract was down 14 cents at US$6.60 per mmBTU.

The February gold contract was down US$14.70 at US$1,800.50 an ounce and the March copper contract was down less than a penny at US$3.82 a pound.

This report by The Canadian Press was first published Dec. 2, 2022