CANADA STOCKS-TSX extends slide on U.S. jobs, Europe fears

Fri Jun 4, 2010 3:43pm EDT
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* TSX down 229.73 points at 11,582.14

* All 10 sectors down sharply (Updates prices, adds details, quotes)

By Claire Sibonney

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

The weak U.S. jobs report coupled with a Hungarian official warning of a "Greek-style" debt crisis also dragged 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 6.8 percent to C$32.74 and Suncor Energy (SU.TO: Quote) dropped 2.5 percent to C$32.44.

Financials were also beaten down with Royal Bank of Canada (RY.TO: Quote) off 1.8 percent at C$53.79 and Bank of Nova Scotia (BNS.TO: Quote) slipping 3.4 percent lower to C$49.46.

"It's been a tough week and it's going to finish tough, too," said Bruce Latimer, trader at Dundee Securities.   Continued...