Stocks tumble in Toronto

Weakness in the key financial sector weighed on Canada’s main stock index in late-morning trading as U.S. stock markets edged higher.

The S&P/TSX composite index was down 25.85 points at 16,320.81.

In New York, the Dow Jones industrial average was up 38.20 at 25,623.89. The S&P 500 index was up 3.14 points at 2,829.20, while the Nasdaq composite was up 21.79 points at 7,658.80.

The Canadian dollar traded for 74.26 cents US compared with an average of 74.39 cents US on Monday.

The July crude contract was up 30 cents at US$58.93 per barrel and the July natural gas contract was down 2.7 cents at US$2.58 per mmBTU.

The June gold contract was down US$6.10 at US$1,277.50 an ounce and the July copper contract was up 0.05 of a cent at US$2.70 a pound.

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