Equities in Canada’s largest market took their worst beating of the year so far, as investors tried to shake off the uncertainty following a ruling by U.S. President Donald Trump barring of immigrants from certain countries.
The S&P/TSX Composite tumbled 170.69 points, or 1.1%, to close Monday at 15,405.12. The index last lost more than 1.3% on Sept. 13, while it touched its lowest intraday since Jan. 18 at 15,368.80.
The Canadian dollar regained 0.1 cents at 76.24 cents U.S.
Baytex Energy fell hardest among energy stocks, losing 27 cents, or 5%, to $5.18, while Canadian Natural Resources took a hit of $1.20, or 3%, to $39.10.
Information technology stocks got whacked, most notably BlackBerry, sliding 19 cents, or 2%, to $9.27, while Constellation Software got tagged $7.91, or 1.3%, to $592.03.
Utilities also were negative, as Fortis Inc. lost four cents to $41.01, and Hydro One dived 33 cents, or 1.4%, to $23.63.
Gold stocks rallied, however slightly, as Barrick Gold muscled 24 cents, or 1%, to $23.62, while IAMGOLD Corporation gained four cents to $5.92.
ON BAYSTREET
The TSX Venture Exchange skidded 7.38 points to 802.24
All but one of the 12 subgroups were down, as energy capsized 2.4%, information technology backtracked 2%, and utilities retreated 1.2%.
Gold proved the only gaining group, up 0.01%.
ON WALLSTREET
U.S. equities closed lower on Monday, notching their worst day of the year, as a new measure taken by the Trump administration on immigration sent jitters through the market.
The Dow Jones Industrials dropped 122.65 points to 19,971.13, off its lows of the day, with Goldman Sachs toppling the most.
The S&P 500 eased back 13.79 points to 2,280.90, with energy shedding 1.7%
The NASDAQ let go of 47.07 points, or 1.1%, to 5,613.71. The three major indexes endured their worst day since Oct. 11.
In corporate news, earnings season continues this week as the likes of Exxon Mobil, Apple, Facebook and UPS get set to report quarterly results.
President Donald Trump signed an executive order late Friday that would temporarily bar entry into the U.S. to Iraqi, Syrian, Iranian, Sudanese, Libyan, Somali and Yemeni refugees.
In economic news, pending home sales for December rose 1.6%, while personal income rose 0.3%, below an expected increase of 0.4%.
Prices for the benchmark 10-year Treasury note were slightly lower, lifting yields back to Friday’s 2.49%. Treasury prices and yields move in opposite directions.
Oil prices fell 51 cents to $52.66 U.S. a barrel
Gold prices were in the green $6.10 to $1,197.20 U.S. an ounce.
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