The Toronto Stock Exchange S&P/TSX composite index closed down 68.39 points, today, as profit-takers continued to chip at the financial and information tech sectors. The TSX closed at 6,451.97, the third straight day of losses.

Eight of the TSX’s 10 sub-indexes closed lower. The financial sector fell 1.4%. The information technology sector lost 3%. Nortel Networks Corp. slid 7¢, or 2%, to $3.16. Zarlink Semiconductor Inc. lost 58¢, or nearly 11%, to $4.92.

Reports that United Airlines, the second-largest U.S. airline, is teetering on the brink of Chapter 11 bankruptcy after a federal board denied its request for aid, rippled throughout North American markets. Air Canada warned of more cuts due to ongoing industry troubles. It fell into negative territory but climbed back to finish the day up 16¢, or 3%, to $5.36. WestJet Airline closed down 24¢, or 1%, at $20.41.

In the U.S., the Dow Jones industrial average fell for the fifth straight day, plagued by the United Airlines news. The effect was positive for United’s competitors, as investors switched allegiances, hoping to reap future profits. Delta Air Lines shares soared. The Dow fell 114.57 points, or 1.31%, to 8,623.28.

Declines in retail stocks held down the Standard & Poor’s 500 index in negative territory. Wal-Mart Stores Inc. and other major retailers aren’t showing very positive pre-Christmas figures. They posted low monthly sales. The S&P 500 dipped 11.02 points, or 1.2%, to 906.55.

The Nasdaq Composite Index fell 19.57 points, or 1.37%, to 1,410.78.