TSX at 2pm: TSX Falls 1.5% as Global Growth Concerns Push Commodities Lower
The Toronto stock market suffered triple digit losses in afternoon trading as global growth concerns hurt demand for commodities, dragging down gold and energy stocks. Sentiment was negative after the Bank of Canada cuts its economic growth forecast for 2013 to 1.5%, down from 2%.
The S&P/TSX Composite Index lost 175 points to 11,944, close to session lows.
The materials and energy sectors were the weakest, though all of the TSX's sub-sectors were in negative territory in a broad based decline.
Heavily traded Alterra Power (AXY.TO) was up 6% while Barrick Gold (ABX.TO) shed 2%.
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