NS: TSX sharply lower amid major U.S. jobs disappointment, dismal Chinese data
TORONTO - The Toronto stock market was down sharply and commodity prices hit fresh multi-month lows amid data showing a big drop in U.S. job creation last month.
The American economy only managed to create 69,000 jobs last month, far below the modest expectation for 158,000 jobs.
The S&P/TSX composite index fell 122.4 points to 11,390.8 while the Canadian dollar slid 0.99 of a cent to a six-month low of 95.82 cents US.
The TSX and the dollar failed to find lift from another report showing Canadian economic growth met expectations for the first quarter, rising at an annualized rate of 1.9 per cent.
U.S. markets retreated as the Dow Jones industrial average plunged 176.72 points to 12,216.73. The Nasdaq composite index was down 44.51 points to 2,782.83 and the S&P 500 index slid 20.03 points to 1,290.3.
Crude tumbled $2.87 to US$83.66 a barrel.
