Toronto stocks plunge on financial worries, Nortel

Wed Sep 17, 2008 4:09pm EDT
 
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TORONTO, Sept 17 (Reuters) - The Toronto Stock Exchange's main index tumbled more than 350 points on Wednesday amid worries over the U.S financial crisis and as Nortel Networks Corp NT.TO slashed revenue forecasts and said it was looking to sell one if its businesses.

The S&P/TSX composite index .GSPTSE unofficially closed down 363.39 points, or 2.97 percent, at 11,863.60, putting the benchmark into bear-market territory. (Reporting by Natasha Elkington; editing by Rob Wilson)