Canada Stocks Suffer Double-Digit Losses

Europe and Asia markets finish lower

Canada's benchmark TSE 300 suffered double-digit losses Thursday, dropping 59.20 points, or 0.7%, to 7,856.20. Interest-rate sensitive stocks underperformed. The Canadian CPI report for Febuary was stronger than expected. The data raised concerns about agreesive Bank of Canada rate hikes. Financials and the utility group contributed to most of the sell-off. Market breadth was negative, with decliners outpacing advancers by 158-118.

European stock markets ended lower. In London, the Financial Times-Stock Exchange 100 index ended with a loss of 13.60 points, or 0.26%, to 5,253.30, despite news that U.K. February retail sales rose 1.5%, more than expected. In France, the CAC 40 lost 23.90 points, or 0.52%, to 4,579.90. In Germany, the DAX Index fell 17.57 points, or 0.33%, to 5,347.13.

Asia markets ended lower. In Japan, the markets are closed for Vernal Equinox Day. In Hong Kong, the Hang Seng fell 206.87 points, or 1.87%, to close at 10,829.73.

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