Canada's main stock index remained lower on Monday, pressured by a drop in financial and industrial shares as a selloff in global markets weighed on investor sentiment.
The S&P/TSX Composite Index came off its lows of the morning, but remained in the red 61.93 points to move into noon hour ET at 15,544.10
The Canadian dollar retreated 0.41 cents to 80.07 cents U.S.
The largest percentage gainer on the TSX was Canopy Growth, which rose 6.8% to $25.75, while the largest decliner was Prometic Life Sciences, down 4.7% to $1.62
Among industrial stocks, Bombardier Inc slipped 1.7% to $3.23.
In the financial sector, Toronto Dominion Bank lost 1.3% to $72.97, and Canadian Imperial Bank of Commerce gave back 1.4% to $117.58.
The TSX Venture Exchange came out of its funk and gained 7.08 points, to enjoy noon hour at 818.76
All but three of the 12 TSX subgroups were still in the red, as consumer staples were down 1.1%, financials slid 0.9%, and energy skidded 0.6%.
The three gaining groups were health-care, recovering 3.6%, materials, growing 0.5%, and utilities, inching up 0.02%.
U.S. stocks fell in volatile trading Monday, extending a steep selloff from the previous session.
The Dow Jones Industrial plummeted 223.96 points to 25,297
The S&P 500 fell 20.24 points to 2,741.89, with financials and energy as the worst-performing sectors. The broad index had traded positive earlier on Monday as the tech sector briefly rose.
The NASDAQ gave up earlier gains and subtracted 38.74 points to 7,202.20. It fell as much as 1.2% and had risen as much as 0.5%. A gain in Apple and Amazon helped the tech-heavy index trade off its lows.
The major indexes also capped off their worst weekly performance in two years on Friday following a steep selloff. The Dow and S&P 500 pulled back 4.1% and 3.9% respectively, last week. The NASDAQ lost 3.5%
Stocks began the New Year ripping higher. The Dow and S&P 500 had their best monthly gains since March 2016 last month. The NASDAQ posted its biggest one-month gain since October 2015 in January. The major indexes had also notched record highs.
Prices for the benchmark 10-year Treasury note regained ground, lowering yields back to Friday’s 2.84%. Treasury prices and yields move in opposite directions.
Oil prices sank 55 cents a barrel to $64.90 U.S.
Gold prices were up $2.40 to $1,339.70 U.S. an ounce.