The TSX plummeted by 108 points in the mid-afternoon session, as energy and healthcare stocks continued to dive.
Action Economics said the market is correcting after running higher into the weekend's meeting of OPEC and other key producers, which, as expected, affirmed that most of the agreed 1.8 million barrels per day output cut had already been achieved. Brent slipped 0.1% to US$55.42/barrel.
Energy and healthcare retreated by 2.8% and 1.2%, respectively. On the positive side, miners advanced 1.1% while metals gained 0.7%.
Total volume traded was 257.4 million shares. Bombardier (BBD-B.TO) was the most actively traded stock.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
