(Reuters) - Canada's main stock index dropped to a near three-week low on Monday, dragged down by the energy sector, as broader risk appetite was rattled by fears of a resurgence in coronavirus cases.
At 9:37 a.m. ET (1337 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 253.14 points, or 1.66%, at 15,003.43.
A fresh coronavirus outbreak in Beijing, coupled with a rising number of cases in the United States, upset markets hoping for a swift economic recovery from a coronavirus-driven slump. [MKTS/GLOB]
Tumbling oil prices also weighed on the heavyweight energy sector, which dropped 3.4%. [O/R]
The financials sector slipped 2.1%. The industrials sector fell 1.9%.
The materials sector, which includes precious and base metals miners and fertilizer companies, lost 2.8% as metal prices retreated. [GOL/] [MET/L]
On the TSX, 5 issues were higher, while 225 issues declined for a 45.00-to-1 ratio to the downside, with 24.21 million shares traded.
Cineplex fell 24.0%, the most on the TSX, after Britain's Cineworld scrapped plans to buy the firm for $1.65 billion.
The largest percentage gainer on the TSX was Shopify Inc, which jumped 6.2% after it partnered with retail behemoth Walmart (NYSE:WMT).
The most heavily traded shares by volume were Bombardier B, Baytex Energy Co, and Zenabis Global Inc.
The TSX posted no new 52-week highs and no new lows.
Across all Canadian issues there was 1 new 52-week high and 2 new lows, with total volume of 44.40 million shares.