CANADA STOCKS-TSX posts biggest drop in three weeks as oil firms tumble [Reuters]
VALEANT PHARMACEUTICALS (VRX)
Last valeant pharmaceuticals earnings: 2/28 07:00 am
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Source: Reuters
CANADA STOCKS-TSX posts biggest drop in three weeks as oil firms tumble | Reuters Reuters Staff 2 Min Read (Adds stocks, details, updates prices to close) Feb 28 (Reuters) - Canada’s main stock index slumped on Wednesday, pulled lower by energy shares that fell alongside the price of oil and as Valeant Pharmaceuticals tumbled after the company gave a weaker-than-expected revenue forecast. * The sell-off on the Toronto market accelerated into the closing bell, following Wall Street lower and making for its biggest decline in nearly three weeks. * Worries over higher interest rates dragged the benchmark S&P 500 lower for the second day in a row after new U.S. Federal Reserve Chair Jerome Powell struck a bullish tone on the strength of the economy on Tuesday. * The Toronto Stock Exchange’s S&P/TSX composite index ended down 228.47 points, or 1.46 percent, at 15,442.68. * The energy sector, which accounts for about a third of the index, retreated 3.4 percent as oil prices fell after data
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