TSX falls on energy, loonie lower

TORONTO — The Toronto stock index dipped into the red Wednesday as plunging oil prices outweighed gains in financials, while the loonie fell nearly half a cent following the Bank of Canada’s latest decision to keep interest rates on hold.

The S&P/TSX composite index was down 6.90 points to 15,908.70. Gains by several of Canada’s biggest banks weren’t enough to compensate for a nose-diving energy sector, which was down more than two per cent.

In New York, the Dow Jones industrial average fell 39.73 points to 24,140.91. The S&P 500 index was down 0.30 of a point to 2,629.27 and the Nasdaq composite index was up 14.17 points to 6,776.38.

The Canadian dollar was trading at an average price of 78.39 cents US, down 0.47 of a U.S. cent.

In commodities, the January crude contract tumbled US$1.66 cents to US$55.96 per barrel and the January natural gas contract was up one cent at US$2.92 per mmBTU.