Canadian Stocks Cap Worst Month Since September on Growth Fears
- The S&P/TSX dropped as much as 10 percent in August trading
- Energy shares in the index slid for a fourth straight month
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Canadian stocks slipped, capping the worst month of trading in nearly a year as concern that global growth will slow sank equities around the world.
The benchmark Canadian equities index fell 4.2 percent in August, sucked lower in the downdraft created by China’s shock devaluation of its currency on Aug. 11. Equities tumbled as concerns mount that China’s policy makers won’t be able to prop up its markets at the same time Federal Reserve officials signaled they’re preparing to raise interest rates.