TORONTO - The Toronto stock market tumbled as a number of big Canadian corporations missed earnings forecasts.
The S&P/TSX composite index fell 194.08 points to 15,330.74 after hitting a fresh record high close on Wednesday.
Valeant Pharmaceuticals, Barrick Gold, Suncor Energy and First Quantum Minerals all disappointed.
The loonie was off 0.02 of a cent to 91.71 cents US.
New York's Dow Jones industrials plunged 317.06 points to 16,563.3, leaving the index below where it started the year by about a dozen points. The Nasdaq lost 93.13 points to 4,369.77 and the S&P 500 index declined 39.4 points to 1,930.67.
In the background are worries that strong economic growth in the U.S. could result in the U.S. Federal Reserve hiking rates a bit earlier than expected next year. Argentina has moved into a debt default for the second time in 13 years and there are also worries about the effect of sanctions levied against Russia for its support of Ukrainian rebels. But at the same time, U-S and Canadian markets are close to record highs and analysts say they wouldn't be surprised to see a mid-summer correction.
