CANADA STOCKS-TSX down 3 pct, in full global retreat

Thu Aug 4, 2011 11:20am EDT
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TORONTO Aug 4 (Reuters) - Toronto's main stock index dropped more than 3 percent on Thursday morning in line with a broad global retreat, with heavyweight resource groups tumbling on mounting concerns about the global economy.

More than wiping out a a late-day rally a day earlier, the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE slid 391.74 points, or 3.06 percent, to 12,424.29.

All 10 main index groups were lower, with eight off more than 2 percent, including healthcare, which fell more than 6 percent.

($1=$0.97 Canadian) (Reporting by Andrea Hopkins; editing by Rob Wilson)