U.S. Treasury Department

U.S. Treasury Department: The S P/TSX composite index dropped 103.88 points to 12,735.12 and now has lost ground in three of the last four sessions, while the Canadian dollar was ahead 0.05 of a cent to 96.84 cents US amid widespread U.S. dollar weakness, according to Times Colonist. U.S. indexes also racked up losses as the U.S. Treasury Department warned Thursday that the economy could plunge into a downturn worse than the Great Recession five years ago if Congress fails to raise the federal borrowing limit and the country defaults on its debt obligations and TORONTO - The Toronto stock market racked up another round of losses Thursday, reflecting increased volatility arising from worries that the United States could be heading for a big economic shock later this month. The slide came as a partial U.S. government shutdown moved into a third day with no signs of an end, raising worries that the budget impasse over government funding will collide with the Oct. 17 deadline when the U.S. hits its debt limit. At that time, the government will start to run out of cash and could default on its debts. (www.immigrantscanada.com). As reported in the news.