North American markets post broad losses as trade worries rise, loonie edges up

TORONTO – Canada’s main stock index posted a triple-digit decline, weighed down by losses in the energy, materials and technology sectors, while U.S. markets fell amid worries about trade tensions between the U.S. and China.

The S&P/TSX composite index closed down 266.18 points at 16,183.96 to slip 1.62 per cent.

In New York, the Dow Jones industrial average closed down 328.09 points at 24,252.80. The S&P 500 index ended down 37.81 points at 2,717.07 and the Nasdaq composite index was down 160.81 points at 7,532.01.

Technology companies came under pressure after a report that the Trump administration will limit technology exports to China as well as investment by China.

The Canadian dollar averaged 75.17 cents US, up 0.03 of a US cent.

The August crude contract closed down 50 cents at US$68.08 per barrel and the August natural gas contract was down two cents at US$2.92 per mmBTU.

The August gold contract was down US$1.80 cents at US$1,268.90 an ounce and the July copper contract was down four cents at US$2.99 a pound.

Note to readers: This is a corrected story. An earlier version stated in 2nd headline that the loonie was lower.