• TSX -191.95 to 13,179.75 (CP)
The Toronto stock market sold off across all sectors in another round of worry about the Eurozone debt crisis spreading to larger economies. Worries Italy could be engulfed in the financial crisis pushed the interest rate on a 10-year Italian bond up to 5.64 per cent while the rate on the German equivalent, considered the safest in the Eurozone, traded at 2.67 per cent. Investors want a higher interest rate or return on Italian bonds because of perceived risk of default.
• DOW -151.44 to 12,505.76
Sentiment on markets was already downbeat after Washington announced Friday that the American economy created just 18,000 jobs in June, which was a fraction of the figure expected.
• Dollar -.89c to 103.20c USD as traders fled to the safe-haven status of U.S. Treasury's
• Oil -$1.05 to $95.15USD per barrel Prices for oil and metals fell back as the U.S. dollar strengthened. A stronger greenback usually helps depress commodity prices, which are denominated in dollars, as it makes items such as oil and metals more expensive for holders of other currencies.
• Gold +$7.60 to $1549.20USD per ounce Investors looking for safety also pushed gold prices higher.
The spread (based on the NEW MERIX 5 yr published rate of 3.84%) remains the same over the top of the comfort zone at 1.70
