Toronto stocks are in negative territory Tuesday, led lower by slumping tech issues. At midday, the S&P/TSX composite index is down 16.25 points at 7,619.76.

The information technology sector is down 0.91% after an uninspiring update from mobile phone giant Nokia.

Nokia, the world’s top cellphone maker, took a hit in U.S. trading after it said brisk consumer demand for handsets might lift its earnings, but added that price competition and a weak dollar would cap any revenue sales growth at its main unit.

In Toronto, Nortel Networks is 36¢ at $5.89 while Celestica is off 1.76%.

Research In Motion, however, has soared 20% after the maker of BlackBerry e-mail device said on Monday that second-quarter results will come in better than forecast.

Gold stocks are climbing as bullion prices continue to climb.

Kinross Gold, Goldcorp and Placer Dome are all higher.

The junior S&P/TSX Venture composite index is bucking the down trend. It is up 9.85 points at 1,355.83.

On Wall Street, stocks are down after the Nokia warning.

At midday, the Dow Jones industrial average is off 14.95 points at 9,571.34, while the broader S&P 500 Index is down 3.40 points at 1,028.24. The tech-heavy Nasdaq composite is off 2.46 points at 1,886.16.