TORONTO _ The Toronto stock market closed lower as nervous investors backed off going ahead of the weekend in the face of rising tensions in Ukraine.
The S&P/TSX composite index declined 20.68 points to 14,533.57. The Canadian dollar was off 0.07 of a cent at 90.61 cents US.
U.S. indexes also retreated as the Dow Jones industrials tumbled 140.19 points to 16,361.46, while the Nasdaq dropped 72.78 points to 4,075.56, also pressured by a 9.8 per cent drop in Amazon's share price after the retailer warned of a likely operating loss in the second quarter.
The S&P 500 index slid 15.21 points to 1,863.4 as Russia's foreign minister announced military exercises near Ukraine's border. And late in the afternoon, Ukraine's deputy foreign minister said he feared an imminent Russian invasion.
At the same time, the economic cost to Russia increased as Standard & Poor's cut Russia's credit rating from BBB to BBB-minus _ one step above junk status.
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