TSX and loonie fall in early trading Friday

TORONTO -- North American stock markets fell in early morning trading today, with the Toronto Stock Exchange dropping more than its U.S.

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counterparts.

The Toronto Stock Exchange's S&P/TSX index was down 164.10 points or 1.3 per cent after 10 minutes of trading at 12,767.26.

The Canadian dollar also took a step down, dropping to 72.33 cents US, down 0.4 of a U.S. cent from Thursday's close.

In New York, the major U.S. indexes showed less drastic declines.

The Dow Jones industrial average was down 88.48 points or 0.54 per cent at 16,324.95.

The broader S&P 500 composite index fell 14.49 points or 0.8 per cent to 1,903.34 and the Nasdaq composite index dropped 28.61 points or 0.6 per cent to 4,458.92.

On the commodity markets, the March crude contract was down $1.20 at US$29.57 per barrel and the March contract for natural gas was down two cents at US$1.91 per mmBtu.

The April gold contract rose $1.80 to US$1,228.10 an ounce.



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