Toronto stocks closed broadly lower Tuesday as investors locked in profits due to concerns over the health of the U.S. economy. The S&P/TSX composite index slipped 50.33 points to finish at 8,750.88.

Information technology stocks led losses falling 2%. Nortel Networks, down 31¢ to $9.35 and Celestica lost 64¢ to $22.46.

Health-care issues sagged 2.03%. with Biovail falling $1.54 to $22.56 after Moody’s Investor Services put the drug company’s ratings under review and a downgrade could follow.

The Toronto market was supported by gold stocks as the price of bullion rose US$3.40 to US$403.80 an ounce. Wheaton River was up 13¢ to $3.97 and Goldcorp rose 40¢ to $18.45.

Metals and mining stocks were also in retreat with Inco off $1.53 to $45.30 and Teck Cominco surrendered 78¢ to $24.89.

Active stocks included Bombardier, down 8¢ to $6.74, and Rothmans, up 44¢ to $32.99.

In earnings news, Imax. reported a fourth-quarter loss of US$507,000 as revenue fell from a year earlier. That compared with a profit of US$684,000 a year ago. Imax shares headed 70¢ lower at $9.15.

Toronto volume was moderate with 261.1 million shares changing hands.

The junior TSX Venture composite index rose 5.5 points to 1,928.92.

In New York, the Dow Jones industrial average fell 86.81 points to 10,442.67. The tech-heavy Nasdaq composite slid 15.74 points to 1,993.04, wiping out the index’s gains for the years so far.

The broader S&P 500 index edged down 8.35 points at 1,138.85.

The Canadian dollar lost ground, down 0.15¢ to US75.68¢.