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Toronto stocks take a big hit as commodities fall

Posted on 16 October 2008

From Reuters: The Toronto Stock Exchange’s main index plunged again on Wednesday as resource stocks were pressured by falling commodity prices on concerns global economic weakness would cut demand.

The tumble chipped away at big gains made on Tuesday when the benchmark index logged a record 9.82 percent rise on hopes that moves by policy-makers around the globe would help fix the financial crisis. The heavily-weighted energy sector led the way down, dropping 11.8 percent as U.S. crude plummeted $4.09 a barrel to settle at $74.54 a barrel on recession fears….. Full Article: Source


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