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

Canada’s main stock index dropped in late-morning trading as the price of oil stayed below US$70 a barrel and losses in the base metal and battery metal stocks weighed on the Toronto market.

The S&P/TSX composite index was down 137.01 points at 19,443.89.

In New York, the Dow Jones industrial average was down 203.96 points at 33,742.75. The S&P 500 index was down 31.57 points at 4,350.32, while the Nasdaq composite was down 143.93 points at 13,486.68.

The Canadian dollar traded for 75.74 cents US compared with 75.99 cents US on Thursday.

The August crude oil contract was down US$1.00 at US$68.52 per barrel and the August natural gas contract was down five cents at US$2.66 per mmBTU.

The August gold contract was up US$12.40 at US$1,936.10 an ounce and the July copper contract was down nine cents at US$3.80 a pound.