CANADA STOCKS-TSX sinks on U.S. jobs data, Europe fears

Fri Jun 4, 2010 4:43pm EDT
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* TSX slumps 242.26 points, or 2 pct, to 11,569.61

* All 10 sectors down sharply

* Canada jobs data wows, U.S. disappoints (Updates prices, adds details, quotes)

By Claire Sibonney

TORONTO, June 4 (Reuters) - Toronto's main stock index tumbled 2 percent on Friday, following disappointing May jobs figures in the United States and worries that Hungary may be the latest casualty of Europe's fiscal woes.

The soft U.S. employment report coupled with a Hungarian official warning of a "Greek-style" debt crisis also dragged on the euro, which fell below $1.20 for the first time in more than four years. [MKTS/GLOB]

Global stocks and other riskier assets such as commodities were knocked lower, hitting Canada's resource-loaded index hard. [O/R] [MET/L]

Teck Resources TCKb.TO plunged 6.7 percent to C$32.77 and Suncor Energy SU.TO dropped 2.5 percent to C$32.46.

Financials were also beaten down, with Royal Bank of Canada RY.TO sliding 2.3 percent to C$53.54 and Bank of Nova Scotia BNS.TO sinking 3.8 percent lower to C$49.23.   Continued...