08/22/2016 07:40 EDT | Updated 08/23/2017 01:12 EDT

North American stock markets turn negative, loonie falls against U.S. dollar

TORONTO — The loonie fell against the U.S. dollar in late morning trading today as stock markets turned negative after a positive start.

The Canadian dollar was at 77.19 cents US, down 0.59 of a cent from Friday's close.

The Toronto Stock Exchange's S&P/TSX composite index was down 13.71 points at 14,673.57 after two hours of trading.

The Dow Jones industrial average was down 59 points at 18,493.57 and the broader S&P 500 composite index fell by 6.2 points to 2,177.67.

The Nasdaq composite lost 11.48 points to 5,226.90.

The October crude contract was down $1.16 at US$47.95 per barrel and September natural gas was up 10 cents at US$2.69 per mmBTU.

The December gold contract fell $3.30 to US$1,342.90 an ounce and September copper contracts fell two cents to US$2.14 a pound.