Markets update

On the markets at 9:50 a.m. (ET):In Toronto, the S&P/TSX composite index was down 49.07 points to 15,856.07.The Dow Jones industrial average was down 12.50 points to 23,429.26.The Standard & Poor’s 500 index was down 4.17 points to 2,564.96.The Nasdaq composite index was down 4.86 points to 6,593.57.The Canadian dollar was trading at 78.97 cents US, up from Tuesday’s average price of 78.95 cents US.