CANADA STOCKS-TSX ends at 3-week low after weak U.S. data
* TSX drops 323.20 points to 11,071.76
* Lowest TSX close since Sept. 9
* All 10 TSX sectors finish lower (Adds details, comments and official numbers)
By Frank Pingue
TORONTO, Oct 1 (Reuters) - Toronto's main stock index skidded nearly 3 percent to its lowest close in more than three weeks on Thursday, hit by a mix of soft commodity prices and weak data from the United States that raised concerns about the strength of economic recovery.
Shares of oil company Suncor Energy (SU.TO: Quote), the biggest drag on the index, dropped 4.4 percent to C$35.74, while Canadian Natural Resources (CNQ.TO: Quote) ended down 3.4 percent at C$69.81.
Heavyweight bank shares were also hit. Royal Bank of Canada (RY.TO: Quote) dropped 2.45 percent to C$56.14, while Toronto-Dominion Bank TD.TO ended down 2.8 percent at C$66.70.
Fresh off a third-quarter gain of 9.8 percent, the TSX was knocked back after a report that showed the U.S. manufacturing sector expanded in September for a second straight month but at a slower pace than economists expected. [ID:nSP546135]
"We had a better than expected third quarter and so I think people being wary of the stability of the recovery are anxious to take profits," said Michael Sprung, president at Sprung & Co Investment Counsel.
"And you couple that with the disappointing manufacturing number and I think people are, and maybe rightly so, worried about the underlying strength of the economy."
The S&P/TSX composite index .GSPTSE ended down 323.20 points, or 2.84 percent, at 11,071.76. That marked the TSX's lowest close since Sept. 9.
($1=$1.08 Canadian) (Reporting by Frank Pingue; editing by Peter Galloway)
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