Canada's main stock index dropped on Tuesday as a sluggish global growth forecast and weak data from Germany fuelled a selloff in equities and oil prices. In turn, the decline in the price of oil pushed down the energy sector, which had the biggest negative influence on the market. The benchmark TSX is off about 7 percent since hitting a record high last month.
Investors digested data showing that German industrial output plunged in August staging its steepest drop since the height of the financial crisis. The Toronto Stock Exchange's S&P/TSX composite index unofficially ended down 166.67 points, or 1.13 percent, at 14,576.45. Nine of the 10 main sectors on the index were in the red. Shares of energy producers dropped 1.9 percent.