Jitters over the world situation, particularly with respect to the COVID virus which refuses to go away, left world markets rattled, especially those in Canada.
The TSX Composite lost 163.28 points to end Monday at 20,220.49.
The Canadian dollar slid 0.46 cents to 74.11 cents U.S.
Gold and materials led the way down Monday, as Equinox Gold was pasted 35 cents, or 7.5%, to $4.35, while Seabridge slid 94 cents, or 5.6%, to $15.76.
Endeavour Silver staggered 38 cents, or 8.3%, to $4.22, while MAG Silver skidded $1.39, or 6.6%, to $19.65.
In real-estate, Tricon Capital slid 54 cents, or 4.6%, to $11.31, while InterRent REIT units lost 46 cents, or 3.6%, to $12.18.
Consumer staples tried to turn the ship around, with Loblaw surging $3.57, or 3%, to $121.32, while Empire Company gained 81 cents, or 2.3%, to $36.66.
Haivision Systems buoyed the tech sector, jumping 40 cents, or 14.8%, to $3.10, while Shopify grabbed $2.16, or 4.4%, to $51.34.
Communications also tried, with Quebecor picking up 51 cents, or 1.8%, to $28.63, while Cogeco Communications added 68 cents to $75.52.
ON BAYSTREET
The TSX Venture Exchange sank 1.13 points to close the week’s first session at 574.51
Eight of the 12 subgroups were negative on the day, with gold retreating 2.6%, materials sinking 2.3%, and real-estate falling 2.2%.
The four gainers were led by consumer staples, ahead 1.5%, while information technology took on 0.7%, and communications were 0.2% above the breakeven point.
ON WALLSTREET
Stocks fell Monday as social unrest from China’s prolonged Covid restrictions weighed on markets and pushed down oil prices.
The Dow Jones Industrials thundered lower 497.37 points, or 1.5%, to conclude Monday at 33,849.66.
The S&P 500 faded 62.1 points, or 1.5%, to 3,964.02.
The NASDAQ fell 176.86 points, or 1.6%, to 11,049.50.
Over the weekend, demonstrations broke out in mainland China as people vented their frustrations with Beijing’s zero-COVID policy. Local governments tightened COVID controls as cases surged, even though earlier this month Beijing adjusted some policies that suggested the world’s second-biggest economy was on its way to reopening.
Shares of companies with big production facilities in the country were under pressure. Apple dropped 2.8% after Bloomberg reported that unrest at a factory in China could mean six million fewer iPhone Pro units for the year.
Investors will be watching this week more earnings reports and a slew of economic releases that will give further information on the state of the consumer and the U.S. economy. Personal consumption data and the labour report for November will also be released.
Prices for the 10-year Treasury fell back, raising yields to 3.69%. Treasury prices and yields move in opposite directions.
Oil prices regained 64 cents to $76.92 U.S. a barrel.
Gold prices slid $14.40 to $1,739.60 U.S. an ounce.