Toronto stocks plunge on U.S. financial worries

Mon Mar 17, 2008 9:38am EDT
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TORONTO, March 17 (Reuters) - Toronto's main stock market index plunged more than 300 points at the open on Monday in the wake of the fire sale purchase of Bear Stearns BSC.N by JP Morgan Chase (JPM.N: Quote) and the U.S. Federal Reserve's emergency measures on Sunday to prop up U.S. financial markets.

The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 317.50 points, or 2.4 percent, at 12,935.34. ($1=$0.99 Canadian) (Reporting by Scott Anderson; Editing by Bernadette Baum)