CANADA STOCKS-TSX falls on downgrades, oil price drop

Mon Dec 22, 2008 4:05pm EST
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TORONTO Dec 22 (Reuters) - Toronto's main stock index shed almost 3 percent on Monday as analyst downgrades of energy and fertilizer companies combined with a steep drop in crude prices to drag the resource-heavy market into a broad selloff.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE slumped 252.29 points, or 2.95 percent, to unofficially close at 8,299.71. (Reporting by Wojtek Dabrowski; editing by Peter Galloway)