TSX at 2pm: TSX Lower Amid Fiscal Cliff Worries

The Toronto stock market was lower in afternoon trading after U.S. budget talks hit an impasse, raising fresh fiscal cliff worries.

The S&P/TSX Composite Index was down 55 points to 12,315, declining from session highs of 12,370.

Health care and consumer issues declined along with energy and financials.

Materials were in positive territory along with tech as Research in Motion (RIM.TO) shares gained more than 10%.

Poseidon Concepts (PSN.TO), the most active stock on the TSX, plunged 52% after the company suspended its dividend and formed a special committee to address financial concerns.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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