Markets fall for third day

Markets in Canada and the U.S. continued their downward slump in mid-morning trading as fears of an economic slowdown grew.

The S&P/TSX composite index was down 65.31 points at 16,245.66.

In New York, the Dow Jones industrial average was down 175.53 points at 25,903.09. The S&P 500 index was down 13.97 points at 2,873.64, while the Nasdaq composite was down 42.88 points at 7,742.36.

The Canadian dollar traded for 75.04 cents US compared with an average of 75.22 cents US on Wednesday.

The November crude contract was down US$1.06 at US$51.58 per barrel and the November natural gas contract was unchanged at US$2.25 per mmBTU.

The December gold contract was up US$14.10 at US$1,522.00 an ounce and the December copper contract was unchanged at US$2.56 a pound.

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