CANADA STOCKS-TSX slumps to nearly 5-month low on U.S. political worries

Wed May 17, 2017 4:50pm EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(Adds portfolio manager quotes and details on bond yields and updates prices)

* TSX closes down 269.65 points, or 1.73 percent, at 15,273.68

* Index close is lowest in nearly five months

* Largest drop for the index since September

* All of the TSX's 10 main groups fall

By Fergal Smith

TORONTO, May 17 (Reuters) - Canada's main stock index slumped on Wednesday to its lowest close in nearly five months as global markets worried that U.S. President Donald Trump's pro-business economic agenda could be slowed by political scandals.

The pullback in global markets came as reports of a memo by former FBI chief James Comey suggested that Trump tried to interfere with a federal investigation.

"If we continue to have more material political controversies, it can dovetail into consumer and business confidence," said Patrick Blais, senior portfolio manager at Manulife Asset Management.   Continued...