Week-ending comments from the 'pros...
"There's a certain limit with people getting enthusiastic about buying energy stocks and gold stocks," said Ian Nakamoto, director of research at MacDougall, MacDougall & MacTier.
"But there's the other side of the equation where they tend to get more negative on the overall outlook for the economy and the overall outlook for consumers."
"Basically, the market's telling us we have to start economizing on the amount of energy we use, and that's going to cause disruptions, particularly on the consumer side," said John Johnson, chief strategist for Harbour Group at RBC Dominion Securities.
"Energy is taking up more and more of household budgets, and its squeezing other stuff out."
Bay Street was also weighed down by a big market retreat south of the border, where the Dow Jones industrial average <.DJI> skidded nearly 400 points amid the soaring oil prices and a jump in the May unemployment rate.
"People I think have realized that if the U.S. consumer and industry are in trouble, certainly we are not going to be immune to that," said Michael Sprung, president of Sprung & Co. Investment Counsel.