S&P/TSX composite down more than 150 points, U.S. stock markets also lower

Canada’s main stock index was down more than 150 points in late-morning trading as the base metal, financial industrial sectors helped lead the way lower U.S. stock markets also retreated.

The S&P/TSX composite index was down 159.80 points at 19,986.21.

In New York, the Dow Jones industrial average was down 179.14 points at 32,876.37. The S&P 500 index was down 30.61 points at 4,114.97, while the Nasdaq composite was down 118.14 points at 12,442.11.

The Canadian dollar traded for 73.54 cents US compared with 74.04 cents US on Tuesday.

The July crude contract was up US$1.50 at US$74.41 per barrel the July natural gas contract was up five cents at US$2.54 per mmBTU.

The June gold contract was down US$3.60 at US$1,970.90 an ounce the July copper contract was down 10 cents at US$3.55 pound.