TSX Joins Retreat In Global Stocks -- Canadian Commentary

(RTTNews) - Canadian stocks tumbled Friday along with oil prices, as traders on both sides of the border grew anxious ahead of the upcoming U.S. Federal Reserve meeting.

An upbeat Canadian jobs report failed to shake Bay Street from its stupor.

The S&P/TSX Composite Index plunged 263.38 points, or 1.78 percent, to 14,539.88, the worst daily performance since the Brexit crisis.

Energy stocks fell 3 percent. Oct. WTI oil dropped $1.74, or 3.7 percent, to settle at $45.88/bbl on Nymex.

In economic news, Canada added 26,200 jobs in August thanks to a big jump in public sector hiring. However, the jobless rate rose to 7 percent as more people sought work.

CP Rail's (CP.TO) CFO is stepping down after just more than a year on the job.

Crescent Point Energy (CPG.TO) aims to raise $650-million in a bought deal.

Telus (T.TO) said the iphone 7 will be available across Canada on Sept. 16.