Stocks in Canada's largest market felt the weight from trade tensions, mostly involving the Trump Administration down south and certain industries in China.
The S&P/TSX Composite Index faltered 127.32 points from Friday’s all-time record close to 16,322.77
The Canadian dollar nicked 0.02 cents to 75.13 cents U.S.
Bombardier and its Canadian workers who assemble turboprops and the company's new top-of-the-line business jet have reached a new labour agreement, averting a potential strike.
Bombardier shares slumped nine cents, or 1.7%, to $5.16.
Acacia Mining said on Monday its majority shareholder Barrick Gold would not provide a new deadline for the completion of talks to end a crippling dispute over taxes in Tanzania after failing to meet a mid-year target to do so.
Barrick shares retreated five cents to $17.30.
Desjardins raised the target price on Northland Power to $28 from $27.50. Northland shares nosed up one cent to $24.60.
IA Securities raised the price target on Superior Plus Corp. to $15.50 from $15.00. Superior shares acquired eight cents to $12.67.
ON BAYSTREET
The TSX Venture Exchange gained 0.8 points to 757.04
All but three of the 12 TSX subgroups were negative, with information technology sliding 1.7%, energy down 1.5%, and industrials tailing off 1%
The three gainers were health-care, up 0.7%, while consumer staples and utilities each gained 0.1%.
ON WALLSTREET
Stocks kicked off the week trading lower on Monday as the Trump administration is reportedly preparing to restrict investment in U.S. technology by Chinese companies.
The Dow Jones Industrials plummeted 309.01 points, or 1.3%, to 24,271.88, with Boeing and Intel as the biggest decliners in the index.
The S&P 500 dropped 35.39 points, or 1.3%, to 2,720.01, as tech declined 1.6%.
The NASDAQ jettisoned 136.78 points, or 1.8%, to 7,555.46, as Facebook, Amazon, Netflix and Google-parent Alphabet dropped.
Shares of chipmakers Intel, Micron Technology and Nvidia all fell at least 1.5%. Boeing sank 1.9%, Caterpillar by 1.4%,and General Motors fell by 0.9%. All companies have significant exposure to China. Boeing, Caterpillar and GM were also on track to post large monthly losses.
Campbell Soup rose more than 8% on a report from the New York Post that said the company is drawing possible takeover interest from Kraft Heinz.
The Wall Street Journal reported Sunday that President Donald Trump plans to bar several Chinese companies from making investments in U.S. tech. The newspaper also reported that the administration wants to block additional technology exports to China. Both measures are expected to be announced by the end of the week.
Increasing trade tensions between the U.S. and its key trade partners, including China, have kept Wall Street on edge. The major indexes finished last week lower after Trump asked the U.S. trade representative to target $200 billion worth of Chinese products for tariffs. Trump also raised the possibility of slapping a 20% charge on European cars.
Prices for the benchmark for the 10-year U.S. Treasury gained ground, lowering yields to 2.87% from Friday’s 2.9%. Treasury prices and yields move in opposite directions.
Oil prices gained 25 cents to $68.83 U.S. a barrel.
Gold prices docked $1.30 to $1,269.40 U.S. an ounce.
