May 17, 2017

By Michael Kramer

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The Toronto Stock Exchange suffered its biggest loss of the year – as North American markets took a steep dive over concerns that turmoil in Washington could be a drag on U-S President Donald Trump’s pro-business agenda.

The S&P/TSX composite index was down 269.65 points at 15,273.68 at the close – dropping 1.73 per cent.

Gold stocks were the TSX’s only positive sector – as investors helped the  precious metal surge $22.30 to US$1,258.70 an ounce.

Things were worse in New York – where the Dow Jones industrial average lost 372.82 points to 20,606.93 – and the Nasdaq composite index fell 158.63 points to 6,011.24.

The Loonie  was trading at an average value of 73.45 cents U-S, down 0.10 of a cent.

Oil advanced 41 cents to US$49.07 per barrel.

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