CANADA STOCKS-TSX drops sharply on bank and auto concerns

Mon Mar 30, 2009 4:06pm EDT
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TORONTO, March 30 (Reuters) - Toronto's main stock index closed 3 percent lower on Monday and erased nearly all of last week's gains as troubles in the North American auto sector and the European banking industry rattled investor sentiment.

The S&P/TSX composite index .GSPTSE unofficially closed down 280.20 points, or 3.18 percent, at 8,540.86. (Reporting by Frank Pingue; editing by Peter Galloway)