Stocks in Canada’s largest centre shed a lot of the strength they had built up on recent weeks, on fears over the spread of the coronavirus.
The TSX Composite Index closed Monday negative 122.82 points at 17,442.52
The Canadian dollar dipped 0.15 cents to 75.83 cents U.S.
Energy stocks were particularly roughed up, with Imperial Oil sinking 98 cents, or 2.9%, to $32.60, while Suncor dipped $1.02, or 2.4%, to $41.46.
Health-care concerns also had a tough time of it, with Cronos Group faltering 39 cents, or 3.9%, to $9.60, while Canopy Growth skidded $1.21, or 4.1%, to $28.55.
Materials were also negative, with First Majestic Silver toppling 52 cents, or 3.7%, to $13.39, while First Quantum Minerals slumped 74 cents, or 6.2%, to $11.30.
Consumer staples gained ground, however, as Loblaw Companies advanced 77 cents, or 1.1%, to $69.70, while Saputo $1.32, or 3.3%, to $41.36.
Communications also were in the win column, Quebecor up 64 cents, or 1.9%, to $33.95, while Shaw Communications gathered 34 cents, or 1.3%, to $26.40.
In utilities, Northland Power climbed 30 cents, or 1%, to $29.78, while Bolarex gained 26 cents, or nearly 1%, to $27.49.
Canada's first "presumptive" confirmed case of the novel coronavirus was disclosed by Canada's chief medical officer on Sunday.
ON BAYSTREET
The TSX Venture Exchange skidded eight points, or 1.4%, to 573.76.
Eight of the 12 TSX subgroups were negative, as energy stumbled 2.7%, health-care demurred 2.6%, and materials fell 1.4%
The four gainers were led by consumer staples, up 1.7%, communications, ahead 0.8%, and utilities, better by 0.3%.
ON WALLSTREET
Stocks tanked on Monday after more cases of the coronavirus were confirmed over the weekend, ratcheting up worries over the virus’ impact on the world economy.
The Dow Jones Industrials stumbled 453.93 points, or 1.6%, to 28,535.80, wiping out the average’s gains for the year. The 30-stock average also notched its biggest one-day fall since October along with its longest losing streak since August.
The S&P 500 slumped 51.84 points, or 1.6%, at 3,243.63, snapping a 74-session streak without a 1% decline.
The NASDAQ slouched 175.60 points, or 1.9%, to 9,139.31, the index’s worst day since August
There are 2,862 confirmed cases so far in China and the death toll in China has risen to 81. The World Health Organization’s director general is traveling to China to meet with government and health officials. In the U.S., a fifth case of coronavirus was confirmed over the weekend.
Airline stocks United and Delta both dropped more than 3.3%. American slid 5.5%. Gaming stocks such as Las Vegas Sands dropped 6.8% and Wynn Resorts declined 8.1%. MGM Resorts slid 3.9%.
Travel stocks Expedia, Carnival and Marriott International all pulled back at least 2.1%. Consumer shares with exposure to China such as Apple, Disney, Nike and Estee Lauder all dropped at least 1.8%.
Caterpillar, a bellwether for global growth, fell 3.3% while Nvidia and Micron Technology fell more than 4% each while AMD dropped 2.2%.
Elsewhere, American Express shares fell 3.1% after an analyst at Stephens downgraded them to equal weight from overweight. The analyst also trimmed his price target on the stock, citing a stretched valuation.
Prices for the 10-Year U.S. Treasury leaped, lowering yields to 1.60% from Friday’s 1.69%. Treasury prices and yields move in opposite directions.
Oil prices fell $1.35 to $52.84 U.S. a barrel.
Gold prices gained $9.90 to $1,581.80 U.S. an ounce.
