Canada's main stock index faltered on Monday, led by losses in technology shares, as investors paused after November's strong rally and looked ahead to a busy week of bank earnings.
The TSX slumped 281 points to conclude Monday to 31,101.78.
The Canadian dollar dropped 0.15 cents to 71.43 cents U.S.
Major Canadian banks are set to post earnings over the next few days, setting the tone for markets. Financial companies hold nearly a third of the weight on the TSX index.
In corporate updates, four Malian employees of Barrick Mining were released from prison after an agreement that resolved all disputes over the Loulo-Gounkoto gold mining complex, three sources told Reuters.
Barrick shares gathered 84 cents, or 1.4%, to $59.27.
On the TSX, technology stocks slid with blockchain farm operator Bitfarms falling 28 cents, or 5.7%, to $4.61, after bitcoin price fell.
Elsewhere, Celestica slid $32.51, or 6.8%, to $443.60, while Dye & Durham lost 23 cents, or 7.1%, to $3.02.
In the financial field, Sun Life shares tumbled $2.09, or 2.6%, to $80.75, while goeasy Ltd. gave back $3.50, or 2.5%, to $136.81.
In real-estate, First Capital REIT units faded 57 cents, or 2.9%, to $19.07, while units of Choice Properties REIT bowed 33 cents, or 2.2%, to $14.89,
Health-care stocks tried to pull things upward, as Bausch Health Companies gained $1.04, or 11.7%, to $9.92, while Curaleaf shares poked up 16 cents, or 4.9%, to $3.40.
Among consumer staples, George Weston moved up $1.48, or 1.5%, to $97.31, while Loblaw Companies acquired 80 cents, or 1.3%, to $62.80.
Gold tried to make a go of it, with Equinox Gold increasing 10 cents to $19.66, while New Gold picked up 23 cents, or 2%, to $11.65.
On the economic slate, the Markit Canada Manufacturing PMI for November fell to 48.4 in November from October’s 49.6, signaling a modest deterioration and extending the sector’s contraction for a 10th straight month.
ON BAYSTREET
The TSX Venture Exchanged gained 2.57 points, to 939.91.
Seven of the 12 TSX subgroups were lower on the day, with information technology plummeting 3.6%, while financials and real-estate each toppled 1%.
Health-care concerns led the five gainers, increasing 3.3%, consumer staples up 0.5%, and gold, brighter 0.4%.
ON WALLSTREET
Stocks fell on Monday, following cryptocurrencies lower, as volatility continued into December’s trading month.
The Dow Jones Industrials closed Monday down 427.09 points to 47,289.33.
The S&P 500 Index ditched 36.46 points to 6,812.63.
The NASDAQ stumbled 89.76 points to 23,275.92.
Bitcoin, the flagship cryptocurrency, dropped around 6% to trade below $86,000, putting downward pressure on the stock market. It was bitcoin’s worst day since March.
The digital currency late last month fell below $90,000 for the first time since April and has since struggled to stay above that mark.
Crypto-related stocks including Coinbase and Strategy tumbled in Monday’s session.
Broadcom dumped more than 4% and Super Micro Computer lost more than 1%, indicating more profit-taking on some names in the artificial intelligence trade.
But Synopsys shares popped after Nvidia announced an investment in the company. Meanwhile, shares of Nvidia — the AI darling who has become a favorite of Wall Street and Main Street — rose more than 1%.
Outside tech, retailers such as Ulta and Walmart advanced as the holiday shopping season kicked into high gear.
The 10-year Treasury slumped, raising yields to 4.09% from 4.02% on Friday. Treasury prices and yields move in opposite directions.
Oil prices climbed 92 cents to $59.47
Gold prices hiked $16.10 to $4,271.
