TSX down sharply amid Greek political turmoil worries of economic slowdown

The Toronto stock market is sharply lower as political turmoil in Greece and worries about slowing economic conditions took a big bite out of commodities.The S&P/TSX composite index fell 86.09 points to 12,846.The Canadian dollar is down 0.63 of a cent at 99.54 cents US as traders continued to avoid riskier assets such as oil and metals and resource-based currencies like the loonie.New York’s Dow industrials fell 87.27 points to 12,844.82. The Nasdaq dropped 35.21 points to 2,911.06 and the S&P 500 index lost 10.33 points to 1,353.39.Greece has weighed on markets since inconclusive elections Sunday failed to produce a party that could form a government, raising worries the country could default and exit the eurozone.Oil fell $1.24 to US$95.77 a barrel.