UPDATE 1-Toronto stocks drop 200 pts on more economic woes

Fri Sep 5, 2008 10:33am EDT
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* TSX down more than 1,000 so far this week

* Weaker-than-expected U.S. jobs data rattles investors

* Further decline in oil prices hurts energy shares

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TORONTO, Sept 5 (Reuters) - Toronto's main stock market index tacked on more losses on Friday as disappointing U.S. jobs data fanned concerns that Canadian exporters could suffer from a faltering economy to the south.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 200.13 points, or 1.6 percent, at 12,614.01.

This comes on the heels of a steep 323.58 point loss on Thursday. So far this week the market has lost more than 1,000 points.

Investors were focused on U.S. jobs numbers that showed the labor market in August contracted more than economists had expected, adding to a big drop in nonfarm jobs in July.

Partially offsetting the dreary economic report from the United States, Canada's largest trading partner, was a domestic report showing modest job creation in August after heavy losses in July.   Continued...