The TSX composite was lower, falling 60.35 points to 12,216.78 in mid-morning trading on Friday. The Dow was down 63.43 to 15,112.65, while NASDAQ lost 14.55 to 3,430.81.
National Bank Financial cut the price target on Agrium Inc. (TSX: T.AGU, Stock Forum) to $84.50 from $87 on valuation, saying DuPont's decision to lower its earnings guidance following planting delays on crop input demand will have negative implications for the company. Agrium fell 1.4% to $90.20 in mid-morning trading.
The International Monetary Fund sees the Federal Reserve maintaining large monthly bond purchases until at least the end of this year and urged the central bank to carefully manage its exit plan to avoid disrupting financial markets.
The price of gold rose US$1.29 to US$1,386.49 an ounce, while silver climbed US$0.21 to U$22.08 an ounce.