Health Care Does Harm as Canada Stocks Approach Bear Market
- Worst market in G7 as Valeant joins tumble in oil, metals
- `Nobody wants to fight the tape' as momentum heads to downside
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Canadian stocks, running out of legs to stand on, are now lurching toward a bear market.
Losses among equities in the Standard & Poor’s/TSX Composite Index, already hampered by a rout in commodities, have accelerated in September as health-care stocks joined the fray, led by a 30 percent plunge in Laval, Quebec-based Valeant Pharmaceuticals International Inc.