CANADA STOCKS-TSX hit by U.S. economic worries; golds rise

Wed Aug 3, 2011 11:05am EDT
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* TSX down 183.42 points, or 1.44 percent, at 12,568.90

* Hits lowest level since mid-November 2010

* All 10 sectors drop, six shed more than 1 percent

* U.S. economic data mixed, weighs on market sentiment

* Two big insurers to report earnings later (Adds details)

By Ka Yan Ng

TORONTO, Aug 3 (Reuters) - Toronto's main stock index tumbled more than 1 percent on Wednesday morning to its lowest level in more than eight months after an index of U.S. non-manufacturing activity came in below economists' forecasts, adding to worries about the U.S. economy.

There was some relief early on about the U.S. economy as the ADP payrolls figures for July, a reading on private sector employment, came in stronger than expected. [ID:nN1E77208M]

But another report later showed the pace of growth in the U.S. services sector ticked down unexpectedly in July to the lowest level since February 2010, accelerating losses on the overall market. The TSX hit its lowest since mid November at 12,567.70.   Continued...