The Toronto Stock Exchange shifted lower in early trading as the technology sector felt reverberations from concerns on the NASDAQ
The S&P/TSX composite index fell 108.38 points to break for noon at 14,284.72.
The Canadian dollar regained 0.08 cents at 91.01 cents U.S.
Despite trading in negative territory for the last three sessions, the benchmark index is up about 5.7% this year.
Among tech stocks, BlackBerry particularly suffered, losing 14 cents, or 1.6%, to $8.63.
Financials were down as Manulife Financial Corp gave back 1% to $21.04, and Sun Life Financial Inc lost 1.2% to $36.90.
Oil prices slipped, dragging with them shares of energy companies. Canadian Natural Resources Ltd was down 0.4% at $43.48.
The materials sector, which includes mining stocks, inched up, with some stocks benefiting from a gain in the price of copper.
Shares of diversified miner Teck Resources jumped 1.8% to $24.85.
In corporate news, Potash Corporation of Saskatchewan Inc. said on Sunday that former Inmet Mining Corp boss Jochen Tilk would become the world's biggest fertilizer company's next chief executive officer, replacing Bill Doyle.
ON BAYSTREET
The TSX Venture Exchange dipped 4.7 points to at 1,002.46
All but two of the 14 Toronto subgroups were lower by noon, weighed by information technology, down 1.7%, health-care, down 1.6%, and industrials, off 1.4%.
The two gainers were telecoms and gold, each up 0.2%.
ON WALLSTREET
The major indices for equities all lower again on Monday. The cautious mood follows a 2.6% selloff Friday in the NASDAQ, and 1% slides in the S&P and Dow.
The Dow Jones Industrial Average slipped 40.06 points to 16,372.65. The S&P 500 let go of 3.77 points to 1,861.32. The NASDAQ skidded 7.19 points to 4,120.54
But several momentum stocks rebounded on Monday.Netflix, Facebook, and cybersecurity stock FireEye were all higher.
Yahoo didn't join the rally though. Despite reports that it may be looking to produce original content like Netflix, the stock is lower today.
Some of the "old-tech" names, such as Microsoft, Intel and Cisco, were gaining.
Despite Friday's selloff, the market has been hot lately. In fact, the Dow and the S&P both touched all-time highs Friday morning before dipping in the afternoon.
Earnings may help determine whether or not stocks continue to fall or not for the rest of the week and beyond. Alcoa will report its fourth-quarter results on Tuesday, and big banks JPMorgan Chase and Wells Fargo will report their first-quarter earnings later in the week.
Overall, earnings for the companies in the S&P 500 are expected to be down 1.2% in the first quarter, according to estimates from FactSet.
For all the doom and gloom, stock experts say the bull market still has room to run. Most expect the S&P 500 to gain 6.5% this year.
Some drug makers were moving today. Shares of Mannkind were sharply lower. The Food and Drug Administration is extending its review of Mannkind's Afrezza inhaled insulin drug by at least three months. The stock shot up last week after a favorable review from a panel that advises the FDA.
Questcor Pharmaceuticals is soaring after Ireland's Mallinckrodt said it would buy the autoimmune drug maker for $5.6 billion U.S.
Prices for 10-year U.S. Treasuries gained, dropping yields to 2.69% from Friday’s 2.73%. Treasury prices and yields move in opposite directions.
Oil prices slumped 62 cents to $100.52 U.S. a barrel.
Gold prices dipped $4.40 to $1,299.10 U.S. an ounce.
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