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TSX falls to 2-month low as contagion fear hits bank stocks

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Canada's benchmark stock index fell on Friday to its lowest closing level in two months and bank stocks slid after the failure of a high profile U.S. lender in the technology sector spooked investors.

ended down 311.8 points, or 1.55%, at 19,774.92, its lowest closing level since Jan. 5.

Wall Street indexes also fell as California banking regulators said they closed SVB Financial Group"It is unclear whether SVB is a self-contained issue or the tip of the iceberg in a larger crisis for the financial sector, said Brandon Michael, senior investment analyst at ABC Funds.Latest Updates

 

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