CANADA STOCKS-Sobering US retail data pulls TSX down sharply
* TSX down for third day, falls 3.65 percent to 9,709.51
* U.S. retail sales for April worse than expected
* All 10 TSX sectors decline, led by energy, financials (Adds details; updates closing numbers)
By Ka Yan Ng
TORONTO, May 13 (Reuters) - Toronto's main stock index fell for a third consecutive session on Wednesday with heavy losses in the energy and financial groups as soft U.S. retail sales figures wounded investor sentiment.
A weaker-than-expected retail sales report curbed hopes for a quick economic recovery, sparking a selloff in equity markets on both sides of the border.
U.S. data showed sales at U.S. retailers fell for a second straight month in April, pulled down by sluggish gasoline and electronic goods purchases. [ID:nN12361802]
"We've had series of very good numbers and this is one that put some doubt onto it. If you get a whole series of them, that's a very different case in point," said Ian Nakamoto, director of research at MacDougall, MacDougall & MacTier.
"If anything, it's a sobering reminder of the economic situation." Continued...