Stock market sheds 146 points as oil plunges to a five month low

TORONTO — The Toronto stock market lost nearly one per cent today, as oil prices plunged to a five-month low. The S&P/TSX composite index retreated 146.44 points to 15,396.70, with energy, metals and materials stocks being the biggest decliners. The steep drop came amid a report that OPEC members will not slash their output levels any further.

The June crude contract dropped $2.30 at US$45.52 per barrel, its lowest level since November.