North American stock markets were down sharply in early afternoon trading Thursday, including a triple-digit decline in Toronto.
The S&P/TSX composite index collapsed 135.29 points, off its lows of the day, to close Thursday at 15,019.39
The Canadian dollar moved backward 0.32 cents to 80 cents U.S.
Fears on the effect of higher borrowing costs on the economy persisted, as the German 10-year Bund yields rise to 2015 highs. This overshadowed the impact of favourable U.S. jobless claims data.
All sectors of the market sustained losses in Toronto Thursday, metals taking the biggest hit, with Sherritt International falling 21 cents, or 8.1%, to $2.39, and Capstone Mining heading south five cents, or 3.9%, to $1.22.
Utilities were also in the red, weighed chiefly by Brookfield Renewable Energy down $1.45, or 3.9%, to $36.21, and TransAlta Corp. off 37 cents, or 3.5%, to $10.12.
Energy stocks had a rough time of it Thursday, with Bellatrix Exploration sinking 20 cents, or 5.5%, to $3.42, and Trican Well Service down 21 cents, or 5.2%, to $3.80
Bombardier was the most actively traded stock, giving back eight cents, or 3.1%, to $2.52, on just over eight million.
Economically speaking, Western University revealed that its Ivey Purchasing Managers Index stood at 62.3 in May, compared to 58.2 in April, and 48.2 in May 2014.
The index canvasses purchasing managers as to their spending habits over the previous month, whether they increased, decreased or stayed put. A figure above 50 shows an increase while below 50 shows a decrease.
ON BAYSTREET
The TSX Venture Exchange surrendered 7.32 points to 684.13.
All 14 TSX subgroups were lower on the day, with metals and mining hurtling earthward 2.4%, utilities down 1.9%, and global base metals off 1.7%.
ON WALLSTREET
U.S. stocks closed lower as recent volatility in bonds and lack of resolution on Greece kept investors on edge ahead of Friday's employment report.
The Dow Jones Industrials swooned 170.69 points to 17,905.58
The S&P 500 index lost 20.10 points to 2,093.97. The NASDAQ dumped 45.54 points to 5,053.69.
In corporate news, Apple said it would clear most of watch backlog within two weeks and expanded the offering of the device to seven more countries.
Earlier, The New York Times reported that, contrary to many expectations, the iPhone maker will not unveil a new Apple TV box at the Worldwide Developer Conference next week.
L Brands, the Victoria's Secret parent, reported a same-store sales increase of 5% for May, above the Thomson Reuters consensus estimate of a 2.8% increase.
Cybersecurity firm FireEye announced a partnership with Visa aimed at preventing hacking of payment data.
Five Below earned an adjusted eight cents U.S. per share for its latest quarter, one cent above estimates, with revenue also exceeding forecasts. The discount retailer also raised its outlook for the year, with sales up 22% over a year ago.
Satellite TV operator Dish Network is in talks to merge with T-Mobile US, according to The Wall Street Journal
Weekly jobless claims came in Thursday at 276,000, below expectations and last week's 282,000 figure. The report comes ahead of the May U.S. non-farm payrolls report on Friday.
Prices for 10-year U.S. Treasuries gained back lost ground, lowering yields to 2.31% from Wednesday’s 2.37%. Treasury prices and yields move in opposite directions.
Oil prices dipped $1.41 a barrel to $58.23 U.S.
Gold prices eased $8.20 at $1,176.70 U.S. an ounce.
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