Markets in Toronto fell on Monday as energy shares dropped after crude prices weakened, with sentiment dented further by concerns that surging cases of the Omicron coronavirus variant might curb global economic recovery.
The S&P/TSX Composite plummeted 200.97 points, or 1.7%, to close Monday at 20,538.22.
The Canadian dollar faded 0.24 cents at 77.27 cents U.S.
Health concerns were hit hardest, particularly Canopy Growth, walloped $1.11, or 9%, to $11.27, while Tilray was bruised 65 cents, or 6.3%, to $9.60.
Among industrials, Ballard Power Systems pointed downward $1.16, or 7%, to $15.51, while Bombardier lost 10 cents, or 6.2%, to $1.52.
In real-estate, Colliers International Group docked $6.72, or 3.6%, to $179.07, while Dream Office REIT units handed over 77 cents, or 3.2%, to $23.05.
Gold stocks had an easier time of it, with Kirkland Lake Gold hiking $1.26, or 2.4%, to $52.61, while Yamana Gold acquired five cents, or 1%, to $5.21.
In communications, Rogers surged 37 cents to $59.34, while TELUS gained 17 cents to $29.72.
The TSX Venture Exchange slumped 11.15 points, or 1.3%, to 882.63.
All but two of the 12 TSX subgroups were lower on the day, with health-care fading 2.9%, while industrials shaving 2.5%, and real-estate tumbled 2.1%.
The two gainers were gold, up 0.5%, and communications, eking ahead 0.02%.
The major averages fell on Monday as investors continued to grapple with the resurgence of COVID cases spurred from the newfound omicron variant.
The Dow Jones Industrials came off its lows of the day, but still lost 433.28 points, or 1.2%, to end Monday at 34,932.16, dragged down by losses in Boeing, Goldman Sachs and American Express.
The S&P 500 index subtracted 52.62 points, or 1.1%, to 4,568.02.
The NASDAQ deleted 188.74 points, or 1.2%, at 14,980.94.
Caterpillar, Boeing and General Electric all lost ground on Monday. The aircraft maker was off by 2.2%. Caterpillar headed down 2.9% and GE fell 1.5%.
Reopening plays were among the biggest losers once again on Monday. Las Vegas Sands shed 3.6%, Alaska Air Group doffed 1.4%, and Southwest fell 0.8%. Darden Restaurants also lost 1.3%.
Energy stocks also dipped as U.S. oil prices dropped more than 5%. Devon Energy slid 2.4% and Exxon Mobil shed 1.5%.
Financials were in the red with Goldman Sachs down 2.7% and Wells Fargo down 2.3%. JPMorgan withered 1.8% and Bank of America dropped 1.6%.
The omicron variant is raging across the world as the winter holiday season approaches. The strain has been found through testing in 43 out of 50 U.S. states and around 90 countries, and the number of cases is doubling in 1.5 to three days in areas with community transmission, the World Health Organization (WHO) said on Saturday.
U.S. cases are jumping into year-end with more than 156,000 reported on Friday, according to CDC data.
Prices for 10-year Treasurys lost some strength, raising yields to 1.43% from Friday’s 1.41%. Treasury prices and yields move in opposite directions.
Oil prices dropped $2.20 to $68.66 U.S. a barrel.
Gold prices slid $15.70 to $1,789.20 U.S. an ounce.