TSX has biggest drop in five-1/2 months as Fed fears flare

Posted by Reuters

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TORONTO (Reuters) – Canada’s main stock index recorded its biggest single-day drop in about 5-1/2 months on Wednesday after a provisional U.S. budget agreement raised fears the Federal Reserve might begin scaling back its monetary stimulus program soon.

The Toronto Stock Exchange’s S&P/TSX composite index .GSPTSE unofficially closed down 190.59 points, or 1.43 percent, at 13,133.42. All of the 10 main sectors on the index were in the red.

(Reporting by John Tilak; Editing by Peter Galloway)

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