TSE and loonie lower

Canada's main stock index sank into the red in late-morning trading, weighed down by losses in the key energy and financial sectors.

The S&P/TSX composite index was down 41.08 points to 16,103.71, after 90 minutes of trading.

In New York, the Dow Jones industrial average was down 129.09 points to 24,705.32. The S&P 500 index was down 12.45 points to 2,711.99 and the Nasdaq composite index was down 24.24 points to 7,354.22.

The Canadian dollar was trading at 77.64 cents US, down from an average value of 78.21 cents US on Tuesday.

The July crude contract was down 90 cents to US$71.30 per barrel and the July natural gas contract was up three cents to US$2.97 per mmBTU.

The June gold contract was down US$1.10 to US$1,290.90 an ounce and the July copper contract was down six cents to US$3.07 a pound.

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