The TSX composite was lower, falling 118.12 points to 12,634.38 in mid-morning trading on Thursday. The Dow was down 59.91 to 15,247.26, while NASDAQ lost 15.52 to 3,447.77.
Canadian Pacific Railway Ltd. (TSX: T.CP, Stock Forum) announced it will become a "more aggressive" buyer of short-line regional railroads as it improves its financial performance and operating efficiency. It fell 1.8% to $137.29 in mid-morning trading.
Jobless claims decreased by 23,000 to 340,000 in the week ended May 18, Labor Department figures showed today in Washington.
In China, HSBC Corp. said the preliminary version of its monthly purchasing managers index fell to a seven-month low of 49.6 from April's 50.4 on a 100-point scale. Numbers below 50 show a contraction.
The price of gold gained US$16.33 to US$1,385.61 an ounce, while silver eased US$0.10 to U$22.41 an ounce.