North American markets were awash in red ink as gold and mining stocks pulled the Toronto Stock Exchange down and a cautious revenue outlook from Apple Computer Inc. helped pushed U.S. markets to a second-consecutive triple-digit loss.

At close, the Standard & Poor’s/TSX Composite Index was down 82.51 points or 0.87% to 9409.61, while the TSX Venture Exchange slid 31.40 or 1.77% to 1741.69. The Dow Jones industrial average fell 125.18 points or 1.20% at 10278.75. The Standard & Poor’s 500 index declined 11.74 or 1.00% to 1162.05 and the Nasdaq composite index fell 27.66 or 1.40% to 1946.71.

The Canadian dollar was down 0.26 of a cent to US80.48¢ late in the session.

Oil prices bounced higher on Thursday, with speculative buyers attracted by a 15% slide since last week that was triggered by rising U.S. inventory levels. U.S. crude oil futures settled up 91¢ to US$51.13 a barrel after falling as low as $49.75, the first time below $50 in seven weeks. Brent crude for May, which expires later on Thursday, rose 43¢ to US$50.91 a barrel.

Oil stocks lost 0.36% with shares in PetroKazakhstan Inc. leading the way. They fell $2.22 or 6.53% to $31.77, but it was largely on the news that the fight with Russia’s Lukoil had intensified. The company said Thursday that Lukoil’s US$100-million claim in a fight over oilfields is in retaliation for PetroKazakhstan’s demand for $265 million.

On the TSX, metals and mines stocks continued to decline. The fell 3.32% on lower commodity prices as Falconbridge Ltd. shed $1.09 or 2.59% to $41.01 and Teck Cominco Ltd. fell $1.69 or 4.13% to $39.21.

The gold sector was down 3.78% as the U.S. dollar strengthened, sending the price of bullion down US$5.20 to US$423.50 an ounce. Barrick Gold Corp. was down $1.05 or 3.61% to $28.05.

All but one TSX sub group was down. Only the telecommunications sector was ahead, up 0.44%.

In New York, Apple Computer reported Wednesday its second-quarter profit jumped more than six-fold as its IPod music players continued to dominate the market. The results soundly beat Wall Street estimates, but revenue projections disappointed some analysts. Apple declined 9 percent, or $3.65, to $37.39.

The Dow sank to a five-month low, reflecting the market’s anxiety about interest rates and the economy. Following a disappointing retail sales report for March, investors seemed intent on focusing on negative news, but with earnings season just barely under way, some analysts said it was too soon to assume the worst.