TSX Wall Street end in the red as gold surges for second

TORONTO — North American stock markets settled in the red amid continued debate over what the U.S. Federal Reserve will do on interest rates.In Toronto, the S&P/TSX composite index declined 73.08 points to 14,240.02, weighed down by falling energy, consumer staples and metals and mining stocks.It was a similar picture in New York, as the Dow Jones industrial average dropped 19.86 points at 17,985.19, while the broader S&P 500 composite index dipped 3.64 points to 2,115.48.The tech-heavy Nasdaq composite lost 16.02 points to 4,958.62.Investors are taking a breather from the recent rally in equities and instead fleeing into the safe haven of gold, driving up the August gold contract up $10.40 to US$1272.70 an ounce.The Canadian dollar was at 78.66 cents US, down 0.10 of a cent as the July crude contract was down 67 cents at US$50.56 per barrel, still near a 2016 high.Natural gas contracts for July were up 15 cents at nearly US$2.62 per mmBTU, and July copper contracts fell two cents to US$2.04 a pound.

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