CANADA STOCKS-TSX slumps on resources, growth concerns

Thu May 20, 2010 4:32pm EDT
 
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* TSX ends down 259.82 points, or 2.23 pct, at 11,405.95

* Slides as far as 11,381.41, lowest level since Feb. 12

* All 10 of composite's 10 main sectors end lower

* Retreat matches equity selloffs around the world (Updates to close, adds quotes)

By Jennifer Kwan

TORONTO, May 20 (Reuters) - Toronto's main stock index ended sharply lower on Thursday, with commodity issues leading the slide on concerns that austerity policies for weak euro zone countries could hurt European and world growth.

The TSX touched a low of 11,381.41, its weakest intraday level in nearly 14 weeks, driven by investor fears over the impact of fiscal tightening on global recovery. [MKTS/GLOB]

At its lowest level on Thursday, Toronto's index was down 7.6 percent from its late April peak this year.

The slide was similar to stock selloffs around the world, with the S&P500 now down more than 10 percent from its April high, marking the most significant break in its rally from March 2009's 12-year low. [.N]   Continued...