Resources pull TSX lower, global growth weighs
Canada’s resources industries were a big concern as the wider issue of global growth dominated world markets.
Although Asian markets had closed mainly higher from a stronger handover from Wall Street in the previous session concern about slowing global growth spread across European markets and then to New York and Toronto.
Meanwhile the IMF director Christine Lagarde warned that the downside risks of weak global growth, including commodity prices, have increased.
The S&P/TSX Composite Index closed down 288.4 (2.09 per cent)
The Dow Jones closed down 179.7 (1.09 per cent)
Oil is mixed (Brent higher at $48.97, WTI lower at $46.17 at 4.20pm)
Gold is trending lower (1124.20 at 4.20pm)
The loonie is valued at U$0.7544
CN Rail accuses ex-employee of corporate espionage
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Canada could take enforcement action against Volkswagen
German automaker VW has already lost billions in market value after it was found to have given inaccurate emissions data. Now along with many other jurisdictions Environment Canada is talking about potential criminal action if it is found that VW used software to switch to greener running when tested.
Total has sold stake in Fort Hills to Suncor
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