$100 billion wiped out

The Toronto stock market plunged nearly 1,200 points in early trading today before clawing back some of that loss. (Oct. 6, 2008) Falling oil prices, fears of a global recession pummel Canadian stock market John Valorzi THE CANADIAN PRESS Falling oil prices and investor fears of a global recession pummelled the Canadian stock market again today, dragging its benchmark index to its biggest intraday loss ever and wiping out more than $100 billion of stock value. The Toronto stock market plunged nearly 1,200 points in early trading before clawing back some of that loss. The S&P/TSX composite was down nine per cent, or 960.04 points, at 9,843.31 at midafternoon. Before today, the index hadn’t been below 10,000 points since July 2005. The panic selling continued a wave of volatile trading that has seen huge swings up and down as... [read full story]