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The S&P/TSX composite index plummeted almost 605 points on Monday as it joined a worldwide market sell-off prompted by growing fears of a U.S. recession. The benchmark index finished at 12,132.14 - a loss of 4.8 per cent. That's its biggest one-day percentage loss since February 2001. Some of the losses Monday were breathtaking. Research in Motion lost $6.80 to $84.50; Potash Corp. dropped $5.93 to $119.57; First Quantum Minerals shed $8.11 to $67.35; Suncor fell $4.52 to $88.32; BCE dropped $1.95 to $34.42. Drop hit all sectors Every sector was deeply in negative territory, led by resource and financial stocks. The TSX metals and mining index dropped 7.6 per cent; the energy group slumped 5.7 per cent; financials fell 3.9 per cent. "One hopes this is the cathartic sell-off that gives us a foundation to work back from," CIBC Wood Gundy managing director Dunnery Best told CBC News. Monday's sell-off slashed another $95...
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Worldwide market sell-off

The S&P/TSX composite index plummeted almost 605... (more)

Channel:Mediascrape Category:Business Views:58
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