Traders work on the floor of the New York Stock ExchangeSHANNON STAPLETON
Stocks were caught in a broad selloff on Tuesday, with commodity producers continuing to exert the biggest weight in midday activity.
At noon, the Dow Jones industrial average was down 188 points or 1.7 per cent, to 11,014. The broader S&P 500 SPX-I was down 19 points or 1.6 per cent, to 1179.
All 10 subindexes within the S&P 500 were down. However, energy stocks and materials showed the biggest declines, at about 2.3 per cent each, after the price of gold and crude oil fell sharply. Crude oil fell to $83.11 (U.S.) a barrel, down $1.75. Gold fell to $1341 an ounce, down $27.
In other moves, industrials, telecom services and information technology stocks fell 1.7 per cent each. Financials fell 1.6 per cent.
Consumer stocks were the best performers, thanks in part to upbeat earnings from Wal-Mart Stores Inc. and Home Depot Inc. - but the subindexes were down nonetheless. Consumer discretionary stocks fell 1.2 per cent and consumer staples fell 0.9 per cent.
In Canada, the S&P/TSX composite index was down 188 points or 1.5 per cent, to 12,547.
Energy and materials showed the biggest dips, at 2.4 per cent each. Financials and industrials fell 0.9 per cent each, while telecom services were the top performers, falling just 0.3 per cent.