CANADA STOCKS-TSX hits five-week low on fears of Fed rate hike

Tue Mar 10, 2015 10:51am EDT
 
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* TSX down 190.06 points, or 1.28 percent, at 14,664.23

* Nine of 10 main index sectors decline

* RBC, TD lead market lower

By John Tilak

TORONTO, March 10 (Reuters) - Canada's main stock index dropped to its lowest in five weeks on Tuesday, hit by concerns that the U.S. Federal Reserve could raise interest rates sooner than later.

Further, a strong U.S. dollar and mixed economic data from China put pressure on oil prices, weighing on shares of energy producers.

Since the release of a bullish U.S. jobs report on Friday, investors have been speculating that the Fed might accelerate its plans to raise rates.

Recent comments from a Fed official calling for the U.S. central bank to swiftly end its easy monetary policy and raise interest rates only heightened those worries.

The benchmark TSX declined sharply for a third straight session. It has shed nearly 4 percent since the start of the month.   Continued...