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 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.

Read more: Inflation driven by profits in few sectors, including oil and gas: report

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.

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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.

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