North American indexes fall into the red
TORONTO — Canada’s main stock index started off on a positive note today but fell into the red later.
The Toronto Stock Exchange’s S&P/TSX composite index was down 2.32 points to 15,627.15 after 90 minutes of trading.
The energy sector was a major factor behind the decline, offsetting a sizable gain in Air Canada stocks. On the TSX, Air Canada (TSX:AC) was up 5.2 per cent at $17 after the federal government introduced legislation that would allow foreign investors to own up to 49 per cent of the country’s airlines. In New York, the Dow Jones industrial average lost 29.50 points to 20,952.44, the S&P 500 index shed 4.54 points to 2,397.78 and the Nasdaq composite index was down 2.75 points to 6,146.92. The Canadian dollar was trading at 73.46 cents US, stronger from Monday’s average price of 73.31 cents US.