06/14/2016 07:38 EDT | Updated 06/15/2017 01:12 EDT

Canada's dollar loses more ground; North American stock markets fall sharply

TORONTO — North American stock markets were down sharply and the Canadian dollar weakened further this morning.

The loonie was off 0.28 of a U.S. cent at 77.80 cents US, its fourth consecutive session in the red.

Meanwhile, the Toronto Stock Exchange's S&P/TSX index was down 106.31 points at 13,887.57 as Canada's main equity market fell for a fifth trading day.

In New York, the Dow Jones industrial average was down 117.10  points at 17,615.38, the broader S&P 500 composite index declined 13.54 points to 2,065.52 and the Nasdaq composite lost 33.48 points to 4,814.96.

The July crude contract was down 62 cents at US$48.26 per barrel and July natural gas was little changed at US$2.58 per mmBTU.

The August gold contract was up $1 at US$1,287.90 an ounce and July copper fell nearly two cents to US$2.04 a pound.


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