Canadian Stocks Fall to Worst Loss Since 2013 on Oil Drop
This article is for subscribers only.
Canadian stocks posted the steepest plunge since 2013, joining a global selloff, as banks and energy producers tumbled after oil prices slumped below $50 a barrel for the first time in five years amid concern over Greece.
MEG Energy Corp. and Legacy Oil & Gas Inc. sank at least 19 percent as energy stocks fell 5.5 percent as a group. Toronto-Dominion Bank and National Bank of Canada slumped more than 2.3 percent as bank shares declined a fourth day. First Quantum Minerals Ltd. lost 8.3 percent with copper at a four-year low.