North American stock market indexes fell at the start of trading on Thursday, with a disappointing reading on U.S. jobless claims raising concerns about the economic recovery.
The Dow Jones industrial average fell 35 points or 0.3 per cent, to 10,862. The broader S&P 500 fell 5 points or 0.5 per cent, to 1177.
Some of the more defensive names, such as Wal-Mart Stores Inc. and McDonald's Corp. showed slight gains. But Cisco Systems Inc., General Electric Co., Boeing Co. and Alcoa Inc. all fell 1.1 per cent each.
In Canada, the S&P/TSX composite index fell 73 points or 0.6 per cent, to 12,038.
Shoppers Drug Mart Corp. plunged 12 per cent, after the Ontario government announced that it will cut the price on generic drugs to 25 per cent of brand name equivalents from 50 per cent, raising concerns that the move will put a big dent in profits at drug stores.
Energy stocks were also weak, after the price of crude oil fell slightly, to $85.30 (U.S.) a barrel. Suncor Energy Inc. fell 2.2 per cent.