GB: TSX declines as crude oil prices slide amid weak June employment data
TORONTO - The Toronto stock market is lower as weak U.S. jobs data added to worries that the global economy is slowing faster than previously thought.
The TSX/S&P composite index fell 85.23 points to 11,731.68 as the American economy only managed to crank out 80,000 jobs last month, below already modest expectations for 90,000 positions.
The Canadian dollar was down 0.17 of a cent to 98.41 cents as traders also took in tepid domestic job creation figures from Statistics Canada. The agency said 7,300 jobs were created during June, which was slightly better than expectations.
The Dow Jones industrials fell 120.19 points to 12,776.48. The Nasdaq composite index lost 18.87 points to 2,957.25 and the S&P 500 index off 8.17 points to 1,359.41.
Lower demand prospects pushed oil down $2.40 to US$84.82 a barrel.
