Canadian Banks Sink as BMO Sells Shares and Canada Eyes Bank Tax

Canadian bank stocks sink and are the worst performers Wednesday in the S&P TSX Composite Index, ending a seven-day winning streak that helped lead the index to four consecutive record high closes.

• The S&P/TSX Banks Index tumbles as much as 1.6% and the S&P/TSX Financials Sector Index slumps as much as 1.1%, both falling the most in more than two weeks
• Bank of Montreal led losses, sinking as much as 3.3%, the most in one month, after the Canadian lender announced that it is selling about C$2.7 billion in shares to help fund its acquisition of Bank of the ...