Canada Shares Drop at Close

Europe and Asia markets finish lower

Canada's benchmark S&P/TSX fell 54.71 points, or 0.83%, to 6,550.71.

European markets closed down. In London, the Financial Times-Stock Exchange 100 index tumbled 201.70 points, or 4.75%, to 4,044.50, on news that July UK PMI fell to 48.9 from 50.6, which worse than expected.

In France, the CAC 40 lost 174.67 points, or 5.11%, to 3,240.71. And in Germany, the DAX Index was down 93.69 points, or 2.53%, to 3,606.45, as the German PMI eased to 50.1 in July from 50.2 in June.

In Asia, the markets ended with losses. The Nikkei was down 84.43 points, or 0.85%, to 9,793.51. The losses were led by exporter shares, on renewed concerns over the U.S. economy after the country's second-quarter GDP slowed to a seasonally-adjusted 1.1% annual rate, compared to 5.0% for the first quarter.

In Hong Kong, the market lost 87.34 points, or 0.85%, to 10,180.02.

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