US Markets

TSX tumbles 11% to 4-year low as oil slides

Credit: REUTERS/CHRIS HELGREN

Canada's main stock index sank 11% to a four-year low at the open on Monday, as oil prices tumbled and a second emergency rate cut by the U.S. Federal Reserve raised fears of a recession in the world's largest economy.

March 16 (Reuters) - Canada's main stock index sank 11% to a four-year low at the open on Monday, as oil prices tumbled and a second emergency rate cut by the U.S. Federal Reserve raised fears of a recession in the world's largest economy.

* At 09:30 a.m. ET (13:31 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 1,569.17 points at 12,147.16.

(Reporting by Susan Mathew in Bengaluru; Editing by Shinjini Ganguli)

((susan.mathew@thomsonreuters.com; +91-80-6287-2704;))

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

Latest Markets Videos

    Reuters

    Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

    Learn More