CANADA STOCKS-Oil price fall helps fuel big TSX drop
* TSX ends down 2.76 percent at 9,949.59
* Energy sector, down 4.4 pct, leads TSX lower
* Oil retreat from 6-month high helps spark drop (Adds details, quote)
By Jennifer Kwan
TORONTO, May 21 (Reuters) - Toronto's main stock market index fell on Thursday after a two-day rally as a drop in oil prices from six-month highs pressured energy shares.
Oil CLc1 fell to settle at $61.05 a barrel from Wednesday's half-year high above $62 as signs of job market weakness fanned concerns about economic recovery. [ID:nSIN101873]
The TSX index's energy sector fell 4.4 percent, with EnCana Corp ECA.TO down 5.6 percent at C$58.76. Suncor Energy (SU.TO: Quote) fell 3.83 percent to C$34.87.
Toronto also followed world stocks lower as several U.S. economic reports fueled doubts about a quick economic recovery, while Standard & Poor's revised its UK ratings outlook lower.[ID:nN21281189], stoking concern that Washington's growing deficit could lead to a credit rating downgrade for the United States. [ID:nN21308232]
The glum news came a day after the U.S. Federal Reserve, in minutes released from its April policy meeting, cut its outlook for economic growth over the next three years and said a full recovery could take five or six years. [ID:nN21256165] Continued...