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Equities Pasted by Noon

Stocks steadily tumbled by early Tuesday afternoon, as health-care issues took the brunt of investor reluctance, and numbers pointed to economic performances turned flat.

The TSX Composite Index gave up earlier gains, and plunged 114.61 points to greet noon ET Tuesday at 16,544.02

The Canadian dollar nicked ahead 0.01 cents at 75.54 cents U.S.

Consumer discretionary stocks shed some of their feathers, the most notable being Canada Goose Holdings, off $2.53, or 4.3%, to $55.72.

Industrials also took a pounding, as SNC Lavalin dropped 91 cents, or 4.9%, to $17.75.

Among financials, Royal Bank dipped 54 cents to $106.93.

Gold tried to soften the blow, as Barrick Gold took on 19 cents to $23.11, while Detour Gold hopped $1.08, or 5.6%, to $20.53

On the economic front, Statistics Canada says this country's economy was essentially unchanged in July as a decline in goods-producing industries was offset by an increase in services-producing industries,

Meanwhile, the seasonally-adjusted IHS Markit Canada Manufacturing Purchasing Managers' Index rose back above the 50.0 no-change mark in September, posting 51.0 from 49.1 in August. The rate of improvement in the health of the sector this signaled was modest, but the most marked in seven months.

ON BAYSTREET

The TSX Venture Exchange handed back 0.91 points mid-Tuesday to 557.77

All but three of the 12 Toronto subgroups plummeted by noon, with health-care ailing 3.6%, while industrials and financials stumbled 1% each.

The three gainers were gold, up 1.3%, materials, up 0.7%, and communications, better by 0.3%.

ON WALLSTREET

Stocks dropped on Tuesday, the first trading day of the fourth quarter, as disappointing manufacturing data stoked worries over the U.S. economy.

The Dow Jones Industrials hurtled lower 276.67 points, or 1%, to 26,640.16

The S&P 500 slumped 29.24 points to 2,947.50

The NASDAQ Composite subtracted 65.91 points to 7,933.42

Investors entered the fourth quarter with the major averages struggling to reach record highs set earlier in the year. The Dow and S&P 500 were more than 1% from their all-time highs following several failed attempts at to break them. The NASDAQ is about 4% below its record.

The Institute for Supply Management said U.S. manufacturing activity contracted to its worst level since June 2009.

Shares of manufacturers such as Honeywell, 3M and Eaton rolled over on the data release, trading at least 1% lower.

U.S. and Chinese negotiators are expected to meet next week in Washington to discuss a potential trade deal between the world's largest economies.

Prices for the benchmark 10-year U.S. Treasury were slightly higher, lowering yields to 1.62% from Monday's 1.67%. Treasury prices and yields move in opposite directions.

Oil prices gave back 60 cents to $53.47 U.S. a barrel.

Gold prices regained 16 dollars to $1,488.90 U.S. an ounce.

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