TSX drops 2 percent, resources lead slide

Fri Oct 30, 12:48 PM
TORONTO (Reuters) - Toronto's main stock index fell hard on Friday afternoon, unwinding nearly all of the previous session's rally, as its two big resource-based sectors each dropped more than 3 percent.
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(Reuters)

TORONTO (Reuters) - Toronto's main stock index fell hard on Friday afternoon, unwinding nearly all of the previous session's rally, as its two big resource-based sectors each dropped more than 3 percent.

Declines were heavy in Suncor Energy , Barrick Gold and other commodity-based issues, which account for more than 40 percent of the index's weighting. The fall was induced by softening prices for oil and gold, as well as profit-taking after the index's 269-point rally on Thursday.

The S&P/TSX composite index was down 223.87 points, or 2.02 percent, at 10,851.35.

(Reporting by Ka Yan Ng; editing by Peter Galloway)