TSX drops on global growth concerns

Toronto’s main stock index dropped on Monday to its lowest in nearly five months as energy, materials and financial issues receded on concerns about global economic growth.

The broad-based decline came on thin trading on a day when U.S. markets were closed for the Independence Day holiday.

Among the biggest decliners, Suncor Energy lost 0.9 percent to C$30.84, Royal Bank of Canada fell 0.9 percent to C$50.45 and Teck Resources knocked off 2.2 percent to C$30.93.

World stock prices also fell for the fourth day running on growing concerns of slowdowns in the United States and China — the two main pillars of global growth.  Read More…

This article has 8 Comments

  1. Tyler Fairfield

    I’m still not concerned. The economy is recovering it is just like a car coming out of cold storage, just give it a bit to warm up

  2. Humberto N

    Maybe this is a tremor of things to come. A warning that we need to do something now before its too late.

  3. Emmett Y.

    I can’t stand this roller coaster. We need strong action. Although our banks have weathered the storm i still think the american banks have gotten off pretty easily and actually pocketing many of the citizens money in bonsues. With things like that one cant help but think another global disaster is around the corner

  4. Ivory

    I doubt we will experience the same mess as 2008 had. The market is gittery right now. With bad employment numbers out of the US it is a indicator to the stock market which makes investors nervous, and that nervousness ripples throughout the world. When the US economy stablizes so will everything else.

  5. Cortez

    And the slide ocntinues to show its ugly head. Hmmm…

  6. Stevie Hare

    Are we in for another down turn? Hope not but based on recent #s from the US job market it seems we just might be in for a deja vu moment come this September.

  7. Devan E.

    And people at the g20 were recently praising canada for being one of the few economies that were on the rise…(shaking my head).

  8. Avery R

    Totally expected, especially since it is Independence day week for the US and we as investors are stuck to our own devices. I am sure tomorrow will bring a needed correction

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