Stock markets across North America sank dramatically on the ISM data on U.S. service sector activity, which contracted sharply, increasing fears of a U.S. recession.

The S&P/TSX Composite index lost closed down 326.21 points, or 2.46%, at
12,931.95.

All of the ten main TSX groups fell today.

The gold sub-group lost 2.12%.

Barrick Gold Corp. shares lost 99¢, or 2.02%, to close at $487.07, after it
announced it it expected one of its gold mines in Tanzania to be in
production next year at a cost of under US$300 an ounce.

Gold for April delivery declined US$19.10 to end the session at US$890.30 an
ounce on the Nymex.

The energy group lost 2.60%.

Crude for March delivery fell US$1.61, or 1.8%, to close at US$88.41 a
barrel.

The heavyweight financials group retreated 1.92%.

Royal Bank of Canada was the big trader in this group. It closed down 81¢,
or 1.60%, at $49.89. CIBC shares fell $1.64, or 2.29%, closing at $70.

In individual stocks, Shoppers Drug Mart shares gained $2.11, or 4.44%,
closing at $49.63, after it reported a 16% increase in fourth-quarter profit
and boosted its dividend by more than 34%.

CGI shares lost 14¢, or 1.36%, to close at $10.16, after it reported a 66%
rise in its first-quarter profit.

The Canadian dollar closed out at US$99.29, down 0.71 of a cent from
Monday¹s close.

The junior S&P/TSX Venture composite index closed down 57.76, or 2.25%, at
2,509.97.

In New York, stocks plunged deeply on the ISM numbers and renewed fears of a
U.S. recession.

The Dow shed 370.03 points, or 2.93%, to end the day at 12,265.13.

The S&P 500 lost 44.18 points, or 3.20%, to close at 1,336.64.

And the tech-heavy Nasdaq fell 73.28 points, or 3.08%, closing out the
session at 2,309.57.