Skip to main content

Stocks were down in midday trading on Friday, after investors looked beyond upbeat readings on U.S. consumer confidence and inflation.

At noon, the Dow Jones industrial average was down 91 points or 0.7 per cent, to 12,604. The broader S&P 500 was down 9 points or 0.7 per cent, to 1339.

All 10 subindexes within the S&P 500 were down, suggesting a widespread selloff. Financials were down 1.2 per cent, reflecting some concerns about the worsening financial crisis facing Greece, where the country's deficit is expected to rise more than earlier predictions.

Telecom services and materials fell 1 per cent each, while energy stocks fell 0.6 per cent. Defensive stocks fared better, with consumer staples down less than 0.1 per cent and health-care stocks down just 0.3 per cent.

In Canada, the S&P/TSX composite index was down 12 points or 0.1 per cent, to 13,377.

Here, the declines were far more moderate. Financials were among the worst hit, but fell just 0.2 per cent. Energy stocks fell 0.1 per cent after the price of crude oil continued to fluctuate at around $99 (U.S.) a barrel. Materials rose 0.1 per cent and information technology stocks rose 0.7 per cent.

Follow related authors and topics

Authors and topics you follow will be added to your personal news feed in Following.

Interact with The Globe