Source: business.financialpost.com - Friday, June 12, 2015 TORONTO — Stock markets on both sides of the Atlantic turned solidly lower Friday as renewed fears over a possible Greek debt default and its knock-on effects on the euro and the world economy sent traders scrambling for the exits. In Toronto, the S&P/TSX composite index closed down 89.73 points at 14,741.15, with energy and financial issues among the leading decliners as benchmark oil once again fell below US$60 a barrel. The loonie, meanwhile, was off 0.22 of a U.S. cent at 81.25 cents as the American greenback strengthened. The July crude contract shed 81 cents to US$59.96 a barrel on the New York Mercantile Exchange, while August gold lost early gains and was down $1.20 at US$1,179.20 an ounce. In New York, markets gave back a big chunk of their advance over the previous two sessions, with the Dow Jones industrial average suffering a triple-digit loss, down 140.53 points at 17,898.84. The Nasdaq index fell 31.41 points to 5,051.10, while the S&P 500 finished 14.75 points lower at 2,094.11. The decline, which followed similar setbacks on most European bourses, came after an unexpected decision late Thursday by the International Monetary Fund to walk out of the debt negotiations with Greece. The announcement by the IMF, which cited lack of progress in the talks, heightened concerns that Athens may default on its debts when its 240-billion-euro bailout expires June 30. That in turn could force it out of the euro. Greece said FriAll Related
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