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TORONTO, March 30 (Reuters) - Toronto's main stock index was down 4 percent on Monday afternoon as oil prices dropped below $50 a barrel and troubles in the North American auto sector and European banking industry hit investor sentiment.
At 1:08 p.m. (1708 GMT), the S&P/TSX composite index .GSPTSE was down 354.45 points, or 4.02 percent, at 8,466.61, wiping out all of last week's 3.7 percent gain.
All 10 TSX sectors were lower, with the financial index and energy sector both down more than 5 percent. (Reporting by Frank Pingue; editing by Peter Galloway)