Resource stocks weigh on TSX while U.S. markets also move lower

TORONTO -- Canada's main stock index closed down as the key energy and materials sectors lost ground and commodity prices fell on increasing trade tensions.

The S&P/TSX composite index closed down 131.40 points at 16,417.32, after setting record highs earlier in the week.

In New York, the Dow Jones industrial average ended down 219.21 points at 24,700.45. The S&P 500 index closed down 19.82 points at 2,774.02 and the Nasdaq composite index was down 42.59 points at 7,716.61.

The Canadian dollar averaged 76.04 cents US, down 0.15 of a US cent, after the Bank of Canada raised its key interest rate target by a quarter of a percentage point to 1.5 per cent.

The August crude contract closed down $3.73 at US$70.38 per barrel and the August natural gas contract ended up four cents at US$2.83 per mmBTU.

The August gold contract closed down $11 at US$1,244.40 an ounce and the September copper contract was down 10 cents at US$2.74 a pound.

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