Stocks slide: China growth sparks lending worries, Obama calls for bank reform

The Canadian Press ~ The News
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TORONTO - The Toronto stock market tumbled over another round of concern about tightening credit in China and calls for tougher bank rules.
The S&P/TSX composite index fell 210.22 points to 11,469.1.
Banks sold off as U.S. president Barrack Obama proposed rules that would limit the types of trading American banks can do with their money.
Earlier, strong economic growth figures from China reinforced concerns that Beijing will move to cut lending and tighten monetary policy to put a lid on inflation, which could dampen the global economic rebound.
The Canadian dollar was down 0.4 of a cent to 95.11 cents US, while oil fell $1.56 to US$76.08 a barrel.
The Dow Jones industrial average tumbled 213.27 points to 10,389.88, the Nasdaq composite index was down 25.55 points to 2,265.7 and the S&P 500 lost 21.56 points to 1,116.48.

Organizations: S&P, TSX, Dow Jones industrial average

Geographic location: China, TORONTO, U.S. Beijing

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