TSX racks up triple digit loss on falling commodities;lower oil helps lift NY

Malcolm Morrison, The Canadian Press Businessman Walks Past A Monitor Displaying The Close Of The Taiwan Stock Exchange in Taipei, Taiwan, Tuesday, July 8, 2008. THE ASSOCIATED PRESS/Wally Santana TORONTO - Falling commodity stocks punished the Toronto stock market for a third session mid-afternoon Tuesday amid worries about slowing economies and rising inflation. Oil prices continued to tumble, which together with reassuring comments from Federal Reserve chairman Ben Bernanke helped New York equity markets move ahead. Toronto's S&P/TSX composite index was down 149.08 points to 13,563.72 following a broad selloff that slashed almost 300 points from the main index Monday and sent the overall market into negative territory for the year. The TSX is down about eight per cent from its June 18 peak, led by falling energy and metals... [read full story]