TORONTO _ Slowing global economies continued to weigh on the Toronto stock market as lower growth forecasts weighed on crude prices and energy stocks.
The S&P/TSX composite index moved 9.45 points lower to 14,567.
The Canadian dollar slipped 0.01 of a cent to 89.51 cents US.
U.S. indexes were equally lacklustre with the Dow Jones industrials down 10.24 points to 16,709.15, the Nasdaq declined 4.15 points to 4,481.05 while the S&P 500 index slipped 1.24 points to 1,933.86.
Stock markets sold off Tuesday in the wake of a double-dose of weak German industrial data that raised concerns that Europe's biggest economy may not rebound as expected in the third quarter. Also, the International Monetary Fund trimmed its outlook for global economic growth for 2014 and 2015, mostly because of weaker expansions in Japan, Latin America and Europe.
Those concerns translated into questions about demand for crude and drive prices to fresh 18-month lows. Crude in New York fell $1.14 this morning to US$87.71 a barrel after posting the lowest close since April 2013 on Tuesday.