Canada's main stock index was down more than 100 points in late-morning trading led lower by losses in the energy and industrial sectors, while U.S. stock markets also fell. 

The S&P/TSX Composite Index was down 136.25 points, or 0.66 per cent, at 20,493.30.

In New York, the Dow Jones Industrial Average was down 302.23 points at 33,431.73. The S&P 500 Index was down 45.02 points at 3,971.93, while the Nasdaq Composite was down 155.44 points at 11,178.83.

The Canadian dollar traded for 74.52 cents U.S. compared with 74.79 on Tuesday.

The March crude contract was up 36 cents at US$80.49 per barrel and the March natural gas contract was down nine cents at US$2.96 per mmBTU.

The February gold contract was down US$4.30 at US$1,931.10 an ounce and the March copper contract was down two cents at US$4.23 a pound.