TORONTO _ The Toronto stock market added to a string of sharp losses as traders continued to opt for caution amid Chinese economic data that kept concerns elevated about global economic strength.
The S&P/TSX composite index closed off the lowest levels of the session, coming back from a 174-point tumble to lose 49.85 points to 14,976.92 after falling 1.55 per cent last week.
TSX miners led decliners after China reported a 0.6 per cent fall in industrial company profits in August, indicating economic growth might be declining further.
The Canadian dollar rose 0.01 of a cent to 89.66 cents US.
U.S. indexes also finished the session off the worst levels of the day with the Dow Jones industrials down 41.93 points to 17,071.22 after losing one per cent last week. The Nasdaq fell 6.34 points to 4,505.85 and the S&P 500 index declined 5.05 points to 1,977.8.
Markets are set to exit September lower as traders also wonder if the U.S. central bank will move before the middle of next year to raise rates from near zero, where they have been since the 2008 financial collapse. The TSX looks set to fall about four per cent, leaving the main Toronto index still up almost 10 per cent year to date.
For news about small stocks that made big moves in Monday’s trading, please read the
Stockhouse Canadian Small and Micro-cap Stock Report