Canada Stocks Close Lower

Europe and Asia markets slide

Canada's benchmark TSE 300 spent the day trading in negative territory and closed down 54 points to 8292.8. The sustained break below 8315 (was the March peak) and the close just off the low of the day were bearish, as is the fact that the U.S. indices closed on such an ugly note. On the week, the TSE 300 is up 22 points but Standard & Poor's thinks there's a risk of a loss next week. S&P says that while gold is expected to resume its uptrend, the TSE's close below 8315, bearish chart patterns and the weak U.S. market warn of a return to at least 8148.

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