Feb 28 (Reuters) - Canada's main stock index plunged into correction territory on Friday as an increase in global coronavirus cases unsettled investors worried about its economic impact.
* Investors typically consider a technical correction in a security or index to be a drop of 10% or more from its recent peak.
* At 9:57 a.m. ET (1457 GMT), the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was down 732.69 points, or 4.38%, at 15,984.75. The index was about 11% down from a record high touched on Feb. 20.
* The index was set to lose more than 10% for the week, its worst week since the 2008 financial crisis.
* World stocks shed almost $6 trillion this week as fears of a coronavirus pandemic surged after five countries reported their first cases. MKTS/GLOB
* Canada's energy sector .SPTTEN dropped 2.9% as oil prices plummeted amid fears of slowing economic growth. O/R
* The financials sector .SPTTFS slipped 2.8%. The industrials sector .GSPTTIN fell 2.3%.
* On the TSX, seven issues were higher, while 223 issues declined for a 31.86-to-1 ratio to the downside, with 41.32 million shares traded.
* First Majestic Silver Corp FR.TO fell 14.4%, the most on the TSX, while the second biggest decliner was Seabridge Gold SEA.TO , down 12.4%.
* The largest percentage gainers on the TSX were Snc Lavalin SNC.TO , which jumped 4.1% after posting better-than-expected fourth-quarter revenue, and Cascades Inc CAS.TO , which rose 2.7%. The most heavily traded shares by volume were Suncor Energy SU.TO and Bombardier B BBDb.TO .
* The TSX posted no new 52-week highs and 29 new lows.
* Across all Canadian issues there were 17 new 52-week highs and 195 new lows, with total volume of 78.11 million shares.