Stock markets in Toronto and New York endured sharp sell-offs Monday amid persistent worries about the health of the U.S. economy.
The S&P/TSX composite index fell 287 points to end the day at 13,387. Every industry sector finished in negative territory.
The metals and mining group plunged 5.9 per cent as investors bet that a U.S. slump would mean less demand for commodities like copper. Copper price hit a nine-month low.
Copper producer Teck Cominco dropped $2 to $33.90; FNX Mining fell $2.54 to $29.75.
The TSX gold group retreated by 4.5 per cent as bullion prices eased.
Energy stocks also took a two per cent dip as crude oil futures slid 64 cents to $90.63 US a barrel in New York trading.
The information technology group shed three per cent, largely because of weakness from Research in Motion. The maker of the BlackBerry wireless device saw its shares slide $6.74 to $101.02. RIM reports quarterly earnings on Thursday.
The Dow Jones industrial average dropped 172 points to 13,162. Only three of the Dow's 30 component stocks managed to eke out a gain. Alcoa's 3.7 per cent loss was the biggest on the Dow.
The Canadian dollar rose 1.10 cents to 99.43 cents US, as the loonie bounced back toward parity.
Inflation data from the U.S. last week showed consumer prices rose more than expected. That's led to a growing feeling that the U.S. Federal Reserve may not be as quick to lower interest rates.
October inflation data for Canada is released Tuesday at 7 a.m. ET.
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