Financial sector weighs on Toronto stock market, U.S. markets in the red

TORONTO _ Canada’s main stock index closed in the red, hurt by losses in the financial sector as political turmoil in Italy was felt across global markets.

The S&P/TSX composite index closed down 93.53 points to 15,922.61 as base metals weighed it down, along with financials.

In New York, the Dow Jones industrial average ended down 391.64 points at 24,361.45. The S&P 500 index ended down 31.47 points at 2,689.86 and the Nasdaq composite index was down 37.26 points at 7,396.59.

The Canadian dollar averaged 76.80 cents US, down 0.12 of a US cent.

The July crude contract closed down US$1.15 at US$66.73 per barrel and the July natural gas contract ended down six cents at US$2.90 per mmBTU.

The June gold contract ended down US$4.70 at US$1,299 an ounce and the July copper contract was down two cents at US$3.06 a pound.