North American markets closed lower Friday as investors engaged in profit taking ahead of the weekend. The S&P/TSX composite index ended the session down 113.45-points at 6,614.34.


All of the 13 TSX sub-indices closed lower. A profit warning from Bombardier led the industrial sub-index to 5.16% drop. The information technology group fell 4.52%.

Bombardier shares plunged $2 to close at $7.01. The company warned before the start of trading Friday that it would fall far short of its previous earnings guidance for the year.

Nortel dropped 10¢ to $1.91, giving up some of its recent gains. Celestica fell $2.75 to $37.65, while Zarlink dropped 66¢ to $5.02

The financial sector declined 0.69%. TD finished down 50¢ at $33.95, following its quarterly loss announced Thursday
Royal Bank fell 57¢ cents to $54.05 and Bank of Montreal fell 34¢ to $36.69.

Market momentum in Toronto was negative, as 428 issues advanced while 560 declined

The junior TSX Venture Exchange edged up 3.01 points to 1,000.69.

In New York, major indices fell hard as the Dow Jones industrial average dropped 180.68 points to close at 8,872.96.

The Nasdaq composite index fell 42.38 points to finish at 1,380.57. The S&P 500 index declined 16.07 points to 946.63.

Cisco Systems shed 65 cents US to $14.45 US.

The Canadian dollar rose 0.12¢ to close at US64.22¢.