Stocks in Toronto closed at their lowest level in more than six months today.
The S&P/TSX composite index finished the day down 61.88 points, or 0.83 percent, at 7,398.83.
Today marked the index’s seventh straight losing session.
Seven of the 10 TSX sub-groups closed lower. Financial stocks shed 1.6%. Toronto-Dominion Bank slid 88¢, or 2.4%, dropping to $36.10. Royal Bank of Canada fell $1.24, 2%, to $56.36.
The S&P/TSX Venture Composite Index closed up 2.97 at 1196.52 Trading was heavy on a volume of 42.3 million shares worth 19.5 million dollars, with 187 advances, 223 declines and 580 issues unchanged.
South of the border stocks also took a tumble. A technology sell-off gained speed late in the day. Investors are increasingly concerned about the profit picture for tech stocks.
The Dow Jones industrial average fell 128.14 points to 9,517.26, its lowest close since November. The S&P 500 fell 17.14 points to 1,013.60. The Nasdaq composite index fell 33.51 points to 1,497.18.
Meanwhile, the Canadian dollar finished the day more firm against the U.S. dollar, due to bullish remarks about the Canadian economy delivered by Bank of Canada Governor David Dodge during a speech in Halifax, today. The loonie finished at US65.08¢, up from US64.95¢ on Monday.