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

Cape Breton Post - - Classifieds / Business -

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.

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