S&P/TSX composite down more than 100 points, U.S. stock markets also tumble

Canada’s S&P/TSX composite index dipped more than 100 points in late-morning trading as declines in base metal and technology stocks offset gains in energy as oil rose. The index fell 106.92 points to 34,304.77. In New York, the Dow Jones declined 509.19 points to 50,362.92, the S&P 500 dropped 51.84 to 7,334.81, and the Nasdaq fell 274.56 to 25,404.26. The Canadian dollar traded at 71.79 U.S. cents. July crude oil was up $1.41 to $89.61 per barrel, August gold fell $141.40 to $4,145.00 per ounce. The market tone reflected broad risk-off moves as global equities sold off and commodity prices shifted.