BUSINESS

TSX slides lower as financials weighed by Scotiabank results

David Friend The Canadian Press
Published Monday, March 2, 2015 11:33PM EST Last Updated Tuesday, March 3, 2015 4:28PM EST

A sign board displays the Christmas Eve close of the TSX in Toronto on Wednesday, Dec. 24, 2014. (Frank Gunn / THE CANADIAN PRESS)

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TORONTO -- The Toronto stock market closed lower as results from the Bank of Nova Scotia fell short of expectations.

The S&P/TSX composite index dropped 130.20 points to 15,133.85 on declines across nearly every major sector.

Gold stocks pulled back as April bullion fell $3.80 to US$1,204.40 an ounce, while the April crude oil contract rose 93 cents, to settle at US$50.52 a barrel.

On Wall Street, the Dow Jones industrials moved back 85.26 points to 18,203.37 and the S&P 500 index lost 9.61 points to 2,107.78. The Nasdaq slid 28.20 points to 4,979.90.

The Canadian dollar rose 0.28 of a U.S. cent to 80.06 cents, after figures from Statistics Canada showed the economy grew at an annualized pace of 2.4 per cent in the fourth quarter of 2014 -- better than analysts had expected.

Meanwhile, investors will be looking towards the Bank of Canada's rate decision on Wednesday morning for more insight into the outlook for the coming months.