CANADA STOCKS-TSX drops 3 pct to lowest in almost a year

Mon Aug 8, 2011 9:41am EDT
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 TORONTO, Aug 8 (Reuters) - Toronto's main stock market
index fell to its lowest in nearly a year shortly after the
open on Monday as Standard & Poor's cut to the top-tier AAA
credit rating of the United States shook investor confidence,
knocking commodity prices lower.
 The resource-heavy Toronto Stock Exchange's S&P/TSX
composite index .GSPTSE lost 392.77 points, or 3.23 percent,
to 11,769.40, its lowest since Aug. 27, 2010. All 10 main
sectors were on the decline, led by a 4.5 percent tumble in the
oil and gas sector.
 (Reporting by Ka Yan Ng; Editing by Jeffrey Hodgson)