The Toronto Stock Exchange was lower as Wednesday trading got underway with commodity prices declining, earnings reports mixed and some investors seeking to sell after three days of gains pushed the index to two-year highs.
Minutes after the open, the S&P/TSX composite index was down 92.44 points, or 0.73 per cent, to 12,592.24.
Canadian Pacific Railway Ltd. and TMX Group Inc. reported better-than-expected earnings on Wednesday, though Corus Entertainment Inc.'s results fell short.
On the commodities market, crude oil was down 75 cents to $81.80 U.S. a barrel, while gold was down $8.90 to $1,329.70 U.S. an ounce.
The Canadian dollar was down 61 basis points to 97.03 cents U.S..
On U.S. stock markets, the Dow Jones industrial average was down 69.36 points, or 0.62 per cent, to 11,100.10 in early action. The Nasdaq composite index declined 10.07 points, or 0.4 per cent, to 2,487.22.
This followed a report from the U.S. Commerce Department showed durable goods orders rose 3.3 per cent last month, better than economists' estimate of a two per cent rise. Excluding military and aircraft orders, however, orders were down 0.6 per cent following a 4.8 per cent gain in August.
In Europe, the United Kingdom's FTSE index was down 43.24 points, or 0.76 per cent, to 5,664.06. France's CAC fell 9.7 points, or 0.25 per cent, to 3,842.96. And the DAX in Germany declined 19.31 points, or 0.29 per cent, to 6,594.49.
Japan's Nikkei index was up 9.65 points, or 0.1 per cent, to 9,387.03. Elsewhere in Asia, there was a decline of 436.66, or 1.85 per cent, to 23,164.58 on Hong Kong's Hang Seng index. Mainland China's Shanghai composite was off 44.96 points, or 1.46 per cent, to 2,997.05.
On Tuesday, S&P/TSX rose 21.1 points or 0.2 per cent, to 12,684.68. In the U.S., the Dow Jones rose 5.41 points, or 0.05 per cent, to 11,169.46, while the Nasdaq gained 6.44 points or 0.3 per cent to 2,497.29.
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