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Stock markets retreat on swine flu concerns

Published on April 27, 2009; Published on July 10, 2009
The Canadian Press ~ The News

Topics :: General Motors , Pontiac , S&P , TORONTO , US , New York

TORONTO -

Fears that economic recovery could be disrupted by a possible swine flue pandemic are sending stock markets sharply lower.
General Motors is also in focus as the automaker released a major restructuring plan that includes another 21,000 job cuts - and the elimination of its Pontiac brand.
Toronto's S&P/TSX is down 159.3 points to 9,390.2 and is under added pressure as oil prices tumbled more than US$3 a barrel.
A rising American currency is pushing the Canadian dollar down 0.34 of a cent to 82.33 cents US.
New York's Dow Jones industrial average is off 76 points to 8,003.3 while the Nasdaq composite index lost 18.18 points to 1,676.11.
The flu is not yet a global pandemic.

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