CANADA STOCKS-TSX tumbles on broad selloff, resource stocks weigh

Mon Jun 8, 2015 4:39pm EDT
 
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(Adds portfolio manager comment, updates prices to close)

* TSX ends down 213.83 points, or 1.43 percent, to 14,743.33

* All 10 of the index's main sectors lower

By Alastair Sharp

TORONTO, June 8 (Reuters) - Canada's main stock index tumbled 1.4 percent on Monday, its third straight fall and the sharpest selloff in almost three months, with across-the-board declines led by resource and financial stocks.

While investors took cues from global markets, the impact was magnified in Canada's skittish market, which is particularly attuned to both Chinese demand for its commodity exports and economic recovery in the United States, its main trade partner.

"The economic news has been ugly and a bit discouraging in some ways and yet there was good economic numbers on Friday and the market doesn't like them," said John Kinsey, portfolio manager at Caldwell Securities.

The Toronto Stock Exchange's S&P/TSX composite index lost 213.83 points, or 1.43 percent, in the session to end at 14,743.33.

U.S. and European stocks also declined as investors fretted about Greece and the timing of a U.S. rate hike, while bond yields rose and the dollar fell.   Continued...