Yesterday’s seesaw markets settled back a bit today. In Toronto, the TSE 300 wilted in the heat today, dropping 82 points to close at 8,013.

The losses were market-wide, only three of the TSE’s 14 sub-indices advanced on the day. Only consumer products, financial services and merchandising were ahead on the day, and none of them were up more than half a per cent.

Losses were plenty, and especially heavy in the industrial products sub-index which dropped 3.6%.

It was actually a relatively quiet session, volume was only 142 million. But the tone was negative. Among individual issues, decliners outpaced advancers 567 to 504.

There was heavy selling in Nortel Networks. The former TSE giant plunged 7.6% to $16.70. Celestica lost fell nearly as much, dropping 7.1% to $69.55. C-Mac was hit with a 5.6% loss to close at $37.95.

360networks was heavily traded again today. The stock continues its death spiral, plummeting 25% today to close at 51¢.

The one bright spot on the TSE was among the financials. CIBC led the pack with a 2.43% increase to close at $54.70. BMO was up 1.12% and Bank of Nova Scotia was advanced 1.89%.

The CDNX was also slipped today. It dropped five points to close at 3,340. Volume was anemic at 31 million shares. Decliners outpaced advancers 253 to 221.

The loonie erased all of yesterday’s loss and gained some today, climbing 0.61% to close at US65.94¢.

In New York, the Dow Jones industrial average ended the day off 77points at 10,872. The Nasdaq composite index fell 48 points at 2,122. The S&P 500 dropped 14 points to 1,242.