Toronto stocks ended lower on Wednesday as investors closed out positions in advance of the U.S. Thanksgiving holiday on Thursday.

The TSE 300 slipped 50.31 points to finish at 7,330.90. Overall 10 of the TSE’s 14 sub-indices dropped on the day.

Market momentum was negative as declines stepped on advances 566 to 500. Market volume was lighter than Tuesday at 157 million shares.

Financial services and industrials, the meat and potatoes of the composite index, both ended the session down.

The tech-heavy industrial products sub-index fell 1.80%, while financial services dipped 0.97%.

Nortel Networks and Bombardier Inc. were the two most heavily traded issues Wednesday. Bombardier dropped 4.8%, to $12.85 following its third-quarter loss announced Tuesday.

Nortel fell 3.5% to finish at $12.45. Research In Motion Ltd. dropped $1.38 to $34.25.

Among the big banks, CIBC dropped $1.12 to $52.80, while Royal Bank of Canada dipped 50¢ to $48.08.

Shoppers Drug Mart slipped 65¢ to $17.35. The drug store chain marked its first day of trading on the TSE after its initial public offering.

The CDNX Index advanced on Wednesday, adding 8.05 points to 3,072.70. Trading was active on a volume of 31.3 million shares with 192 advances and 186 declines.

On Wall Street, stocks closed lower Thursday as U.S. traders wrapped up their last full session of the week

The Dow Jones Industrial Average lost 66.84 points to 9,834.54. The Nasdaq composite index was down 5.53 points to 1874.98, and the S&P 500 was off 5.64 at 1,137.02.

The session was the last full trading day of the week. U.S. stock markets will be closed tomorrow and will close at 13:00 ET on Friday.