TSX falls another 293 points

[CHIMO]

Canada's benchmark equity index took a triple-digit dive Tuesday as falling commodity prices weighed on the energy, metal and mining sectors.

The S&P/TSX composite index fell 293.24 points or 2.62 per cent to 10,904.34. Each of its sub-indexes lost ground, but losses were heaviest among energy trust, metals and mining and energy stocks.

It is the seventh consecutive losing session for Canada's benchmark index, which dropped 193.12 points on Monday and wiped out its 2006 gains. The index has now lost 3.3 per cent so far this year after having risen as much as 10.8 per cent this year back in April.

Shares of TSX Group Inc., whose profits are closely linked to the stock market, tumbled $3.97 or 8.75 per cent to $41.40.

http://www.theglobeandmail.com/servlet/story/RTGAM.20060613.wstockstwo0613/BNStory/Business/home

Stocks Plummet 9.4 % in 'Overcorrection'

The Russian Trading System index plummeted 9.4 percent Tuesday, the biggest one-day decline since Yukos CEO Mikhail Khodorkovsky's arrest in October 2003.

The drop was part of a widespread decline in emerging markets, which have been hammered in recent weeks and, on Tuesday, fell to a six-month low on fears of a global downturn.

Russian stocks led the charge, with Gazprom dropping 11 percent to $8.42 and LUKoil falling 11.3 percent to $63.

The MICEX stock exchange halted trading in mid-afternoon, closing 9 percent down at 1,082.25.

http://www.themoscowtimes.com/stories/2006/06/14/002.html

Time to sell what we don't own.