Toronto Stock Fell
Toronto stock fell with the global
sell-off in equities resulting bankruptcy of American investment bank Leman
Brothers Holdings Inc., and sales of Merrill Lynch.
The S&P/TSX composite index plunged about
400 points or over 3% at the opening bell led lower by Canadian Imperial Bank of
Commerce (CM/TSX). CIBC.
Bank of Canada issued a statement on recent
market developments. The Bank of Canada is closely monitoring global market
developments. The Bank welcomes the initiatives of the Federal Reserve System to
provide support to U.S. financial markets.
The Bank will provide liquidity as required
to support the stability of the Canadian financial system and the functioning of