TSX down 160 points as energy stocks move lower, U.S. markets continue to fall

TORONTO — Canada's main stock index lost almost 160 points on Monday, weighed down by weakness in energy stocks, while U.S. markets also fell, led by a 1.8 per cent drop on the Nasdaq.

“The consumer in the U.S. looks to still be in a very, very healthy position. The U.S. economy looks quite solid,” said Archibald.“So it really calls into question ... whether or not rate cuts are going to happen , and when those are going to happen.” Earnings season could change that, he added, but so far the reports from U.S. companies have been good overall. Goldman Sachs, M&T Bank and Charles Schwab all reported earnings on Monday and saw their share prices rise despite the market’s downward turn.

The June gold contract was up US$8.90 at US$2,383 an ounce and the May copper contract was up 12 cents at US$4.38 a pound.Law enforcement officials and experts say the Port of Montreal has become a destination for stolen vehicle exports because it is the busiest seaport near the car-theft hot spots of the Greater Toronto Area. They say efforts are needed to recover stolen vehicles at the port, and to prevent vehicles from getting there in the first place.

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