CANADA STOCKS-TSX pares earlier plunge, but still battered by global rout

Mon Aug 24, 2015 11:45am EDT
 
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

(Updates throughout with market commentary, details, market reaction)

* TSX down 329.13 points, or 2.44 percent, to 13,144.54

* All 10 of the TSX's main sectors were down

* Energy and financials down more than 3 percent

By Solarina Ho

TORONTO, Aug 24 (Reuters) - Canada's main stock index was severely battered on Monday, swept along by the global market rout that saw a nearly 9-percent plunge in Chinese stocks and sent commodity prices plunging.

A recent string of lackluster data out of China, one of the world's biggest economies and commodities consumers, have ignited worries the country will spur a global economic slowdown.

Chinese stocks tanked on Monday when Beijing failed to intervene over the weekend as some had hoped, triggering panic selling around the globe. The CBOE Volatility Index, a key measure of U.S. equity volatility, surged above the 50 mark for the first time since the financial crisis in 2009.

On Wall Street, the S&P 500 briefly went into correction territory, and the Dow Jones industrial average lost more than 1,000 points at one point.   Continued...