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TSX sharply lower as commodities head south; Valeant shares pummelled again

TORONTO – The Toronto stock market closed sharply lower amid falling commodities prices and another plunge in the shares of Valeant Pharmaceuticals.

Toronto’s S&P/TSX composite index closed down 103.04 points at 13,558.78.

The loonie was down 0.07 of a U.S. cent at 75.94 cents.

In New York, the Dow Jones average of 30 stocks edged 4.15 points lower to 17,863.43, while the broader S&P 500 was off 2.38 points at 2,099.93 and the Nasdaq fell 14.74 points to 5,127.74.

On commodity markets, the December gold contract lost $2 to US$1,104.20 an ounce, while copper shed almost seven cents to US$2.255 a pound.

The December contract for benchmark crude oil slumped $1.12 to US$45.20 a barrel while December natural gas shot up 10 cents to US$2.36 per mmBtu.