Resource stocks weigh on TSX, U.S. markets reverse earlier gains

David Hodges, The Canadian Press</span>
Published Tuesday, January 16, 2018 12:32AM EST
Last Updated Tuesday, January 16, 2018 4:34PM EST

TORONTO -- Canada's main stock index lost ground as U.S. stocks finished off a roller-coaster day of trading in the red.

The S&P/TSX composite index fell 72.93 points to 16,298.88, in a largely broad-based decline led by the influential energy and materials sectors.

In New York, the Dow Jones industrial average was down 10.33 to 25,792.86, after trading above 26,000 for the first time earlier in the morning.

The S&P 500 index gave back 9.82 points to 2,776.42 and the Nasdaq composite index lost 37.37 points to 7,223.69 -- with both indices also reversing earlier gains.

The Canadian dollar closed at an average trading value of 80.52 cents US, up 0.02 of a U.S. cent.

In commodities, the February crude contract was down 57 cents to US$63.73 per barrel and the February natural gas contract gave back seven cents to US$3.13 per mmBTU.

The February gold contract was up US$2.20 to US$1,337.10 an ounce and the March copper contract was unchanged at US$3.22 a pound.

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