CANADA STOCKS-Global recovery fears spark TSX selloff
* TSX down 172.12 points, or 1.47 percent, at 11,569.65
* U.S. consumer data ignites fears about growth
* Nine of 10 main TSX groups end lower (Adds details, quote)
By Jennifer Kwan
TORONTO, July 16 (Reuters) - Toronto's main stock index skidded on Friday as weak U.S. economic data and earnings results heightened worries about a slow recovery, and pushed down heavily weighted resource issues.
Toronto's slide tracked a sharp decline by U.S. stocks, which tumbled in part after consumer sentiment fell to nearly a one-year low, highlighting the sluggishness of the economic recovery.
As well, weak energy costs pushed U.S. consumer prices down for a third straight month in June. [.N]
"You get a little bit of enthusiasm going here and all of a sudden you get squashed because consumer sentiment in the U.S. fell to an 11-month low," said Fred Ketchen, director of equity trading at ScotiaMcLeod.
"That tells you there's not a lot of confidence out there." Continued...