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Canada Stocks Tumble

Canada's benchmark TSE 300 ended the day down 42 points to 7697.7. This morning's quick bearish reversal was another demonstration of the strong downtrend. The 100-point drop in the Dow Jones Industrial Average was a weight. Of the 14 subindices, 13 closed in negative territory, an ugly statistic. The Oil & Gas sector was the biggest loser. The Gold sector also was down despite the US$1.40 bounce in gold.

Europe markets ended mixed. In London, the Financial Times-Stock Exchange 100 index was down 3.80 points, or 0.07%, to 5,661.90. In Germany, the DAX Index fell 40.03 points, or 0.67%, to 5,901.74. In France, the CAC 40 gained 29.79 points, or 0.57%, to 5,213.46.

Asia markets finished lower. Japan's Nikkei 225 index lost 148.14 points, or 1.14%, to 12,896.47, as heavy declines in telecom shares pressured the market. In Hong Kong, the Hang Seng shed 13.43 points, or 0.10%, to 13,174.02.

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