Canada's main stock index lost more than 50 points Wednesday despite strength in energy stocks, while U.S. stock markets also fell.

The S&P/TSX Composite Index closed down 53.56 points, or 0.26 per cent, at 20,818.58.

In New York, the Dow Jones Industrial Average was down 284.85 points at 37,430.19. The S&P 500 Index was down 38.02 points at 4,704.81, while the Nasdaq Composite was down 173.73 points at 14,592.21.

The Canadian dollar traded for 74.87 cents U.S. compared with 75.10 cents U.S. on Tuesday.

The February crude oil contract was up US$2.32 at US$72.70 per barrel and the February natural gas contract was up 10 cents at US$2.67 per mm/BTU.

The February gold contract was down US$30.60 at US$2,042.80 an ounce and the March copper contract was down two cents at US$3.86 a pound.

This report by The Canadian Press was first published Jan. 3, 2024.