CANADA STOCKS-Falling commodities, Obama plan hit TSX hard
* S&P/TSX composite ends downs 1.8 percent at 11,469.10
* Obama's bank plan shakes financial shares
* Resource shares weaken on falling commodity prices (Adds details)
By Ka Yan Ng
TORONTO, Jan 21 (Reuters) - Toronto's main stock index fell hard for a second session and hit its lowest point in five weeks on Thursday, rattled by falling commodity prices and a White House plan to crack down on risk-taking by U.S. banks.
U.S. President Barack Obama took aim at "too big to fail" U.S. banks with a plan that would rein in their trading activities and ability to grow. [ID:nN21115923]
The Obama plan sent bank shares tumbling and major equity indexes around the world fell sharply. It was the second day of big stock market falls. Markets dived on Wednesday after China announced lending restrictions that could slow world economic growth. [MKTS/GLOB]
Toronto-Dominion Bank (TD.TO: Quote) was the top heavyweight decliner, down 2.52 percent at C$62.25. Bank of Nova Scotia (BNS.TO: Quote), Manulife MFC.TO, Bank of Montreal BMO.TO and Royal Bank of Canada (RY.TO: Quote) were also among the top 10 losers in a session that saw the index's key financials group tumble 1.84 percent.
The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE lost 210.22 points, or 1.8 percent, to close at 11,469.10, not far off its 11,461.25 low for the day. Continued...