Canada’s main stock index was down in late-morning trading, weighed down by losses in the base metal and telecom stocks, while U.S. stock markets also fell.

The S&P/TSX composite index was down 24.10 points at 21,294.80.

In New York, the Dow Jones industrial average was down 60.46 points at 38,911.95. The S&P 500 index was down 2.64 points at 5,075.54, while the Nasdaq composite was down 45.67 points at 15,989.63.

The Canadian dollar traded for 73.67 cents US compared with 73.96 cents US on Tuesday.

The April crude oil contract was down 41 cents at US$78.46 per barrel and the April natural gas contract was up five cents at US$1.86 per mmBTU.

The April gold contract was down US$1.90 at US$2,042.20 an ounce and the May copper contract was down two cents at US$3.83 a pound.