CANADA STOCKS-TSX tumbles 2 pct on global growth concerns

Thu Mar 10, 2011 11:06am EST
 
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* TSX down 278.61 points, or 2.01 pct, at 13,605.79

* All 10 main sectors lower

* China data, Spain debt downgrade stoke growth concerns (Updates with details, commentary)

By John McCrank

TORONTO, March 10 (Reuters) - Toronto's main stock index dropped for a fourth-straight session on Thursday in a broad based decline of 2 percent, battered by disappointing economic data out of China and debt concerns in Europe.

The energy and materials sectors led the slide, down 3.34 percent and 3.26 percent respectively, with oil and metal prices trending lower. [GOL/] [O/R] [MET/L]

Baytex Energy (BTE.TO: Quote) was down 3.89 percent at C$50.84, while Suncor Energy (SU.TO: Quote) fell 3.8 percent to C$41.54.

Brent and U.S. crude oil prices both fell by more than $2 a barrel as investors worried that the euro zone debt crisis was resurfacing after Spain's debt was downgraded by Moody's, which cut Greece's credit rating earlier this week. [ID:nLDE729023]

A surprise trade deficit for China in February also soured the mood of investors, raising questions about the pace of global growth. [ID:nTOE72903F]   Continued...