TSX Slumps at Midday As Renewed Tapering Fears Hurt Commodities; Miners Biggest Decliner
Toronto (Jan 25) Canadian stocks were mostly lower at midday, with only 2 sectors in the positive territory. The TSX was down 1.7%, or 229 points, as renewed fears about the U.S. Fed tapering its stimulus program hurt commodity prices.
Miners posted the biggest drop of 4.17%, as silver and copper prices fell 0.65% and 0.32%, respectively. Industrials came in second, down 1.97%. Energy stocks were down 1.51% after crude oil prices slipped 0.62%.
In the positive zone, info tech was up 0.82%, curbing its midday gain of 1.95%. It found support from Open Text (OTC.TO) stocks that were up 12% recently. Utilities were up 0.25%