CANADA STOCKS-TSX slumps as oil tumble hurts energy stocks

Wed Nov 2, 2016 5:14pm EDT
 
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(Adds investor comment, updates prices to close)

* TSX ends down 183.21 points, or 1.24 percent, at 14,595.11

* All of the TSX's 10 main groups fall; energy off 1.7 pct

* Index's fall was biggest since Sept. 13

By Alastair Sharp

TORONTO, Nov 2 (Reuters) - Canada's main stock index fell sharply on Wednesday as tumbling oil prices weighed on energy shares and investors worried about disappointing earnings and a tightening U.S. presidential race.

The Toronto Stock Exchange's S&P/TSX composite index ended down 183.21 points, or 1.24 percent, at 14,595.11. It was the index's sharpest one-day loss since Sept. 13, with more than seven declining stocks for every advancer.

"It wasn't pretty," said Michael Sprung, president at Sprung Investment Management. "Oil's been having a very tough week, and the stocks are reflecting that."

The index's large energy group fell 1.7 percent as oil prices dropped for a fourth day, down 3 percent after a record weekly build in U.S. crude inventories stoked concerns about a global supply glut.   Continued...