TSX Dives 127 Points at Midday As Health Care, Miners Lead Decline
The TSX extended its multi-day losing streak and plummeted 127 points at midday, as recent data out of the U.S. and China increased worries over the health of the global economy.
Reports said U.S. jobless claims rose last week, albeit slower than expected, while business investment plans dropped in August. Just yesterday, China revealed that manufacturing activity in September slowed down to a six-year low.
Meanwhile, oil prices were higher at midday after a volatile morning trade and ahead of U.S. Federal Reserve Chair Janet Yellen's speech on inflation later in the day. Investors are still hoping to get guidance on when the bank would raise key rates.
At midday, the health care and mining groups were down 3.23% and 2.61%, respectively. Industrials plunged 2.43%, and financials eased 0.77%. Energy was down by only 0.25%.
Total volume traded so far reached 161.2 million shares. Bombardier (BBD-B.TO) was the most actively moving stock.
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